European stocks rise on technology shares and US-Iran trades

European stock markets are trading higher this Friday morning (22), driven by technology shares, as investors evaluate signs of progress in peace negotiations between the United States and Iran, although disagreements persist on some points.

At around 6:30 am (Brasília time), the pan-European Stoxx 600 index advanced 0.53%, to 623.83 points. Among the sectors, technology was the main highlight, with an increase of 1.7%.

Yesterday afternoon, news circulated that the United States and Iran had reached a final draft of a Pakistan-brokered peace agreement.

Hours earlier, Reuters had reported that Tehran intended to keep its enriched uranium in the country, a claim later denied by an Iranian official.

US Secretary of State Marco Rubio said yesterday that there had been progress in the talks, but warned that a proposal from Iran to implement a permanent toll system in the Strait of Hormuz, through which a fifth of the world's oil transits, could make an agreement with the US unfeasible.

The uncertain environment supports oil, which rose again after three days of decline. At the time above, Brent rose 2.5%, to around US$ 105 per barrel.

On a macroeconomic level, the most recent data on consumer and business confidence in Germany improved, but British retail disappointed in April, with a larger-than-expected drop in sales.

At 6:43 am (Brasília time), the London Stock Exchange rose 0.34%, the Paris Stock Exchange increased 0.35% and the Frankfurt Stock Exchange gained 0.59%. Those in Milan, Madrid and Lisbon, in turn, registered increases of 0.53%, 0.33% and 0.32%, respectively.

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Source: CNN