Global Markets | European stocks muted as US-Iran peace talks called off

European stocks were flat to slightly lower as US-Iran peace talks were called off, with US Vice President JD Vance dropping plans to travel to the country, raising uncertainty over a lasting truce. The STOXX 600 dipped 0.1%, with miners and utilities declining while energy and defense stocks gained. Stocks had hit record highs earlier in the week on optimism around the talks and the gradual reopening of the Strait of Hormuz.