European stocks were lower on Thursday, with the STOXX 50 down 0.3% and the STOXX 600 slipping 0.2%, amid renewed concerns that the US and Iran are unlikely to reach a deal soon. Reuters reported that Iran’s Supreme Leader has issued a directive stating that the country’s near-weapons-grade uranium should not be sent abroad, hardening Tehran’s position on a key US demand in peace talks. As a result, oil prices moved higher again, adding to worries over inflationary pressures. Meanwhile, Nvidia’s earnings failed to excite investors despite beating estimates, leaving the broader AI sector without a meaningful boost. Preliminary S&P Global PMI data for the Eurozone also pointed to a larger-than-expected hit to private sector activity in May, driven by the impact of the war with Iran. HSBC (-1.6%), Hermes (-2.2%), SAP (-1.5%), Santander (-2.4%), Airbus (-3.1%), and Siemens Energy (-2.1%) were lower and Ubisoft was among the worst performers (-18%) after warning of a profit loss.