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(Sharecast News) - European shares were higher at the open on Friday despite the suspension of Iran-US peace talks after more exchanges of fire between Israel and the Iran-backed Hezbollah militia.
The pan-regional Stoxx 600 index was up 0.17% to 638 at 0858 BST with most major bourses higher.
Britain's FTSE 100 fell on political uncertainty after Greater Manchester mayor Andy Burnham roundly defeated a challenge from two far-right parties in a by-election, paving the way for him to launch a leadership bid against Prime Minister Keir Starmer.
Meanwhile, talks set to take place on Friday between the US and Iran in Switzerland on a peace deal were cancelled after Hezbollah killed four Israeli soldiers and Israel retaliated with airstrikes in south Lebanon that killed at least 18 people.
The negotiations were due to start after Washington and Iran signed a memorandum of understanding (MOU) that opened a 60-day window to agree a permanent arrangement on Iran's nuclear programme and reopening the vital Strait of Hormuz.
Oil prices rose on the news, with Brent crude up to $80 a barrel and West Texas Intermediate moved beyond $78.
In equity news weapons makers gained on the Israel-Hezbollah hostilities, with Kongsberg, Leonardo and Hensoldt higher.
Reporting by Frank Prenesti for Sharecast.com
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