BRUSSELS/FRANKFURT/PARIS (dpa-AFX) - European stocks moved mostly lower over the course of the trading session on Friday amid signs that the U.S. and Iran have made little progress toward de-escalating the Middle East conflict.
The Strait of Hormuz remained effectively closed, keeping oil prices elevated and raising concerns that tensions may persist for longer than expected.
According to a Wall Street Journal report, the U.S. military is said to need up to 6 years to replenish the amount of missiles consumed in the war with Iran.
The pan-European STOXX 600 Index fell 0.6 percent to 610.65 after finishing marginally higher on Thursday.
The German DAX Index edged down by 0.1 percent, while the U.K.'s FTSE 100 Index and the French CAC 40 Index both slid by 0.8 percent.
Electrolux plummeted by 25 percent after the Swedish appliance maker unexpectedly slipped to a loss in the first quarter as a result of higher U.S. tariff costs.
British paper and packaging group Mondi also tumbled by 8.7 percent after reporting a sharp decline in its first-quarter profit.
Drug discovery and development firm Evotec also slumped by 4.8 percent after its CFO Paul Hitchin stepped down for personal reasons.
Meanwhile, shares of SAP surged by 4.7 percent after the German business software maker beat first-quarter profit estimates.
Grocer J Sainsbury also shot up by 1.3 percent after launching a share buyback program of up to £300 million.
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