European stocks set to open lower as Trump refuses to lift Strait of Hormuz blockade

european stocks are set to open lower on wednesday, with traders weighing an extended ceasefire and stalled peace talks with iran. the ftse, dax, and cac 40 are all expected to open about 0.3% lower. u.s. president donald trump extended a two-week ceasefire with iran, citing a "seriously fractured" government in tehran. he said it would continue until iran submits a "unified proposal" to end the war. a planned trip by vice president jd vance to pakistan for talks was put on hold after iranian negotiators said they wouldn't appear. market sentiment was dampened by trump's refusal to lift the u.s. blockade of iranian ports. he said on truth social that lifting it would mean "there can never be a Deal with Iran." earnings from l'oreal, danone, and others are in focus, alongside u.k. inflation data for march.