European Stocks Turn Higher 0.24% as Iran Uranium Order Clouds U.S. Talks

6 articles · Updated · CNBC · May 21

The Stoxx 600 rose 0.24% by mid-afternoon in London after swinging between gains and losses, with most sectors and major bourses recovering into positive territory.
Iran's Supreme Leader ordered near-weapons-grade uranium to remain in the country, undercutting earlier optimism from Donald Trump's claim that U.S.-Iran negotiations were in their final stages.
Oil stayed elevated as the diplomatic risk premium held, with Brent at $105.85 a barrel and WTI at $99.24 after Trump said he had paused renewed strikes to allow more time for talks.
Stock moves were sharp beneath the index: Eutelsat jumped 17% and 24% for the week, while Ubisoft fell more than 10% and BT dropped 4.5% after results.
Fresh economic data added pressure, with the U.K. composite flash PMI at 48.5 and France's at 43.5, signaling a May slump in activity across two major European economies.

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