10.07.202607:41:28UTC+00European Stocks Cautiously Higher

European stocks inched higher on Friday, with both the STOXX 50 and STOXX 600 up 0.1%. Investors continued to monitor developments in the Middle East, while easing oil prices—after a sharp rally earlier in the week—offered some relief following reports that the US and Iran would keep peace talks on track.

Market participants were also focused on the closely watched US listing of South Korean chipmaker SK Hynix. The technology sector lagged, with ASML Holding down 1.9% and Infineon Technologies off 2.3%.

Vodafone jumped more than 10%, leading gains on the STOXX 600, after UAE-based e& said it would sell its stake in the telecom group for $5.95 billion. Among other notable movers, BBVA and Intesa Sanpaolo each rose 1%, while Rio Tinto advanced 1.7%.

On the downside, AstraZeneca slipped 1.4%, extending the 6.2% loss it posted in the previous session. For the week, the STOXX 50 is down about 2%, and the STOXX 600 has retreated roughly 1.8%.