FX.co ★ European Stocks Set for Muted Open

European equity markets were set for a muted open on Monday as investors weighed ongoing uncertainty surrounding efforts to reopen the Strait of Hormuz, keeping inflation risks and the interest rate outlook in sharp focus. Iran said its talks with Oman were nearing an agreement but denied holding any direct negotiations with the US, despite Washington’s assertions that a deal was close. With the economic calendar relatively quiet, attention is shifting instead to corporate earnings, including results from Alcon, GEA Group and Sisecam. In premarket trading, Euro Stoxx 50 and Stoxx 600 futures were little changed, with both benchmarks hovering near record highs after strong gains last week.