European stocks opened mostly higher on Thursday, echoing a climb in global shares, boosted by continuing hopes for an imminent resolution to the Iran war.

By 03:05 ET (07:05 GMT), the pan-European Stoxx 600 had inched up by 0.2%, the CAC 40 in France had gained 0.1%, the FTSE 100 in the U.K. had ticked higher by 0.2%, and the Dax in Germany was down slightly by 0.1%.

The Stoxx 600 is on track to claw back most of the losses incurred since the outbreak of the Iran conflict in late February. However, stocks in Europe have underperformed their counterparts on Wall Street, with traders noting Europe’s use of natural gas imported from energy sites in the Middle East that have been targeted by missile attacks. The U.S., meanwhile, is a net energy exporter, which some analysts have suggested could help insulate the economy from the effects of the war.

Mediators have been maintaining an ongoing drive to forge a permanent halt to hostilities between the U.S. and Iran, as the end of a temporary two-week ceasefire later this month edges closer.

Washington and Tehran have agreed in principle to hold fresh talks, after an initial round of negotiations last weekend in Pakistan did not yield an immediate deal, according to the Wall Street Journal. Citing officials familiar with the matter, the paper said both sides have not set a time or venue for the meeting.

Vice President JD Vance is due to lead the American delegation in any future discussions with the Iranians, the WSJ said.

U.S. President Donald Trump has also said talks between Israel and Lebanon will take place later today. Citing Lebanese officials, the Financial Times has reported that a ceasefire between the two combatants, which have threatened to derail the U.S.-Iran truce, is expected “soon.”

Still, signs of friction remained, most notably over an ongoing U.S. naval blockade of Iranian ports. A top military commander in Iran has warned Washington not to continue the blockade, which U.S. Central Command has claimed has not been evaded by any Iranian-linked commercial ship and oil tankers.

Oil prices rose marginally, sitting below the $100 threshold but still well above pre-war levels, as investors gauge the impact of a prolonged closure of the Strait of Hormuz. The vital waterway off of Iran’s southern coast has been all but closed to tanker traffic for weeks, pressuring global energy supplies and pushing up crude prices.

Elsewhere, earnings season in Europe has swung into high gear, providing a prism to assess how businesses are reacting to the Iran war.