European Markets Set to Open Higher Amid Iran Peace Talks and Earnings

European stocks are expected to open higher on Tuesday, with investors awaiting Washington's response to Iranian peace proposals and looking ahead to earnings reports from several regional companies. The U.K.'s FTSE 100 index is seen opening slightly higher, Germany's DAX up 0.23%, France's CAC 40 up 0.34%, and Italy's FTSE MIB 0.3% higher, according to market data.

Earnings reports are due from Novartis, Airbus, and Barclays on Tuesday.

Iran Peace Proposal Discussions The U.S.

President and national security team discussed Iran's proposal to reopen the Strait of Hormuz if the U.S. lifts its blockade and the war ends, a White House press secretary confirmed on Monday. The proposal would postpone negotiations on Tehran's nuclear ambitions for a later date, according to reports from Axios and The Associated Press.

It remains unclear whether the U.S. entertained the offer to end the two-month-old war, as the U.S. has vowed not to lift the blockade until a deal is fully complete.

“It's unclear whether [the U.S. Global markets are focusing on central bank meetings this week, with the U.S. Federal Reserve, European Central Bank, and Bank of England holding pivotal sessions as the war affects inflation and growth expectations.”

The Department of Justice

decided to drop its criminal probe into the current Federal Reserve chair on Friday, leading a senator to end a block on the successor's confirmation. Economists expect the central banks to maintain their benchmark interest rates at the respective meetings this month, but they anticipate signals of potential hikes later this year.