European shares muted as investors eye US-Iran talks

European stocks opened subdued Tuesday as investors waited for potential US-Iran talks to develop during the United Nations General Assembly this week. The pan-European STOXX 600 was flat at 642.32 points by 0710 GMT, with most regional markets also muted. Oil prices rose for the first time in five sessions, supported by reports of additional supplies moving through the Strait of Hormuz over the weekend, lifting energy shares 0.4%. Retail stocks gained 1.3%, helped by Kingfisher after it raised full-year profit guidance following a 9.9% jump in first-half results. Insurance shares fell about 1%, pressured by losses at ASR Nederland and AXA. Snam was down 0.2%. Sectors also awaited euro zone consumer confidence data later in the day.