Europe open: Shares nudge towards record on Wall St, Hormuz hopes

(Sharecast News) - European shares edged towards record territory again on Thursday after a mixed Wall Street performance overnight, as investors weighed rising optimism about a US-Iran deal with poor jobs data.

The benchmark Stoxx 600 index was up 0.42% to 659.9 at 0821 BST. US stocks were mixed on Wednesday, with the Dow hitting another all-time high but the S&P 500 and Nasdaq erasing earlier gains to finish lower.

Iran and Oman reached an understanding on ⁠the geographic coordinates for a shipping route through the strait of Hormuz, and ⁠a joint announcement was ​being finalised, according to Iran's foreign ministry.

In economic news, German industrial orders rose in June driven by a surge in large scale orders and helped by a downwards revision to May's readout.

New orders increased 3.1% month‑on‑month, seasonally and calendar‑adjusted, according to provisional figures from the Federal Statistical Office.

That followed a revised 0.3% rise in May from April compared with an initial reading of 1.9% with the adjustment attributed to price changes.

In equity news shares in ad agency WPP surged after results, while TBC Bank tumbled on the back of quarterly earnings.

Reporting by Frank Prenesti for Sharecast.com