European markets to open higher as Trump considers Iran peace proposal

Earnings come from Novartis, Airbus, BP and Barclays on Tuesday.Barclays shares fell 2.7% after the U.K. lender revealed it took a £200 million ($270 million) private credit-related hit resulting from exposure to stricken property lender Market Financial Solutions.The U.K. lender on Tuesday reported a pre-tax profit of £2.81 billion for the first quarter, up 3% on last year's £2.72 billion. Its CET1 ratio was 14.1%. It also announced a £500 million share buyback to follow an ongoing £1 billion program upon completed. Overall, Barclays intends to return more than £15 billion of capital to shareholders between 2026 and 2028.Investors will be assessing the news that U.S. President Donald Trump and his national security team discussed Iran's proposal to reopen the Strait of Hormuz if the U.S. lifts its blockade and the war ends, White House press secretary Karoline Leavitt confirmed on Monday.The proposal would postpone negotiations on Tehran's nuclear ambitions for a later date, Axios and The Associated Press reported earlier in the session.It's unclear whether Trump, who has vowed not to lift the blockade until a deal with Iran is "100% complete," entertained the reported offer to end the two-month-old war. Oil prices edged higher overnight as uncertainty lingered over the outcome of the war.

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