(Il Sole 24 Ore Radiocor) - Milano, 26 mar - European share prices opened lower, following a standoff in the Middle East where Iran rejected a US ceasefire proposal, instead countering with its own five-point plan and signaling no intention of holding direct talks with Washington.

Market participants are keeping a close eye on the Strait of Hormuz after Tehran's rejection of the proposal, while the White House has reportedly signaled a readiness to increase pressure if negotiations do not proceed.

Oil prices edged higher as the geopolitical standoff intensified, with Brent crude futures rising amid concerns over potential supply disruptions.

On the data front, Spain reported resilient growth in the fourth quarter, with GDP rising 0.8% quarter on quarter and 2.7% year on year, while in Germany the GfK consumer confidence index is estimated to fall to -28.0 points in April from -24.8 in March.

In France, the business climate remained unchanged at 97.

At 0810 GMT, London's FTSE 100 was down 0.60% at 10,046.55 points while in Frankfurt the DAX was 0.79% lower at 22,765.99 points and in Paris the CAC 40 fell 0.47% to 7,809.94 points. Milan's FTSE MIB slumped 0.56% to 43,768.50 points while in Madrid the IBEX 35 was 0.42% lower at.

17,098.60 points.

(RADIOCOR) 26-03-26 09:34:48 (0209) 5 NNNN