BRUSSELS/FRANKFURT/PARIS (dpa-AFX) - European stocks are seen opening lower on Thursday as traders react to conflicting reports regarding U.S.-Iran ceasefire talks.
U.S. equity futures drifted lower as Iran dismissed an American plan to pause the war and launched more attacks on Israel and Gulf Arab countries.
Foreign Minister Abbas Araghchi said the country is not currently negotiating with the U.S. and that the Strait of Hormuz is effectively closed to enemies.
Araghchi also clarified that ships belonging to several friendly nations, including India, Pakistan, Iraq, China and Russia were allowed to pass through the key waterway in the Gulf.
Iran has reportedly laid down its own conditions for any ceasefire after rejecting the U.S. proposal as 'excessive.'
The five conditions outlined by Tehran include the cessation of U.S. and Israeli military actions against Iran, guarantees against future aggression, reparations for war-related damages, an end to hostilities on all fronts-including conflicts involving Iran-aligned groups in the region-and recognition of Iranian sovereignty over the Strait of Hormuz, a vital international shipping route.
Iran's top security leadership has signaled readiness for ground confrontation after reports suggested the U.S. has ordered thousands of troops to the region despite growing opposition among Republicans, as well as Democrats, about the dangers involved.
The U.S. economic calendar remains light, with initial jobless claims data for the week ending March 21 likely to attract some attention later in the day.
Closer home, market research group GfK is scheduled to issue German consumer sentiment survey results for April. The forward-looking consumer confidence is seen rising to -24.7 from -26.5 in the prior month.
Asian markets were broadly lower, giving up early gains as uncertainty lingered over the status of U.S.-Iran peace talks.
The dollar index held steady and gold held firm above $4,500 an ounce, while Brent crude prices surged 1.5 percent after a 2 percent drop in the previous session.
U.S. stocks closed higher overnight as oil prices fell and bond yields eased amid expectations that a ceasefire might be reached in the Middle East.
Diplomacy signals lifted sentiment after reports suggested that the U.S. has sent Iran a 15-point plan to end the war in the Middle East.
Tehran also put forward a five-point counterproposal and said the war will end when it decides and on its terms.
White House Spokesperson Karoline Leavitt stated that peace talks were ongoing, adding that the President's preference has always been peace but if Iran fails to accept the reality, President Trump will ensure they are hit harder than they have ever been hit before.
The tech-heavy Nasdaq Composite advanced 0.8 percent, the Dow gained 0.7 percent and the S&P 500 rose half a percent.
European stocks closed on an upbeat note on Wednesday following reports that the United States is seeking a month-long ceasefire with Iran.
The pan European Stoxx 600 rallied 1.4 percent. The German DAX and the U.K.'s FTSE 100 both surged by 1.4 percent while France's CAC 40 added 1.3 percent.
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