BRUSSELS/FRANKFURT/PARIS (dpa-AFX) - European stocks look set to open on a sluggish note on Friday, with trading volumes likely to remain thin amid a holiday in the United States in observance of Juneteenth.
Technology stocks may come under selling pressure after Accenture slashed its annual revenue growth forecast, citing a challenging demand environment.
On the geopolitical front, the U.S.-Iran preliminary peace deal took effect and shipping started returning to the Strait of Hormuz after months of disruption as the United States declared an end to its blockade.
The U.S. Central Command announced it had lifted restrictions on traffic to and from Iranian ports and coastal waters. Iran said it has suspended transit charges for commercial vessels for 60 days.
U.S. Vice President JD Vance has downplayed concerns that Iran could eventually impose tolls on traffic through the vital energy waterway.
Meanwhile, amid ongoing regional conflict and diplomatic uncertainty following Israeli strikes in Lebanon, the Vice President has cancelled his planned trip to Switzerland for the formal in-person signing of the MOU with Iran. Iran also reportedly suspended its delegation's trip to Switzerland.
Vance issued a stark warning for the Israeli government to get on board with President Trump's interim peace agreement with Iran, suggesting Israeli leaders need to 'wake up and smell the reality' that they are isolated internationally.
Iran's Supreme Leader Ayatollah Mojtaba Khamenei said he held a 'different view' on the memorandum of understanding but ultimately approved it after receiving assurances from President Masoud Pezeshkian and other officials that the country's interests would be protected.
Asian markets were broadly lower, with China, Hong Kong and Taiwan closed for holidays.
The dollar held near a one-year high after a hawkish tilt by the Federal Reserve and amid doubts over upcoming peace talks between Washington and Tehran following reports of fresh Israeli attacks near Kfar Tebnit and Zabadin. Hezbollah said its fighters destroyed three Israeli tanks and that clashes were ongoing.
Brent crude futures recovered from an early slide to hold around $80 a barrel but were down nearly 9 percent for the week as shipping through the Strait of Hormuz began to return to normal.
Gold prices were down nearly 2 percent at $4,133 an ounce and headed for a third consecutive weekly decline on hawkish Fed signals.
Overnight, U.S. stocks rallied to end the holiday-shortened week on an upbeat note after the U.S. and Iranian Presidents signed a preliminary agreement to end the Middle East war and the first ships started sailing through the Strait of Hormuz.
Semiconductor stocks topped the gainers list as oil prices slid to their lowest levels since early March and President Trump said that Apple was going to buy computer chips from Intel.
In economic news, data showed that weekly jobless claims dropped last week but remained at slightly higher levels. The tech-heavy Nasdaq Composite soared 1.9 percent, the S&P 500 gained 1.1 percent and the narrower Dow edged up by 0.1 percent.
European stocks pulled back from a record high to end mixed on Thursday. The pan-European STOXX 600 eased 0.3 percent.
While the German DAX and France's CAC 40 both rose by 0.4 percent, the U.K.'s FTSE 100 lost 1 percent, dragged down by energy stocks.
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