FX.co ★ European Stocks Set for Higher Open

European equity markets were set to open higher on Tuesday, lifted by growing optimism over a possible agreement to end the conflict between the US and Iran and reopen the Strait of Hormuz. Delegations from both sides are expected to travel to Islamabad for a second round of talks before the current ceasefire expires later this week. Still, President Donald Trump indicated he is unlikely to extend the truce and said the Strait of Hormuz will remain closed until a deal is fully concluded. In Europe, investors will focus on UK labor market figures and Germany’s ZEW economic sentiment survey for fresh signals on the economic outlook. On the corporate side, earnings reports are scheduled from Thales, Associated British Foods, Beiersdorf, and several other companies. In premarket trading, futures on both the Euro Stoxx 50 and the Stoxx 600 were up around 0.4%.