Global Markets | European shares hold flat on US-Iran talks; Rheinmetall slides

The pan-European STOXX 600 index edged 0.02% higher to 634.78 points as US-Iran peace talks progressed. German defence group Rheinmetall slid 13.9%, its biggest single-day drop since October 1998, after reports Germany would scrap plans to build a warship, while rival TKMS jumped 9.2%. Oil prices fell to early-March levels on hopes of a US-Iran deal easing tanker movement through the Strait of Hormuz, which could benefit India as a major crude importer.