European equities ended the session largely unchanged, as a steep decline in a leading semiconductor firm weighed on the technology sector and countered gains in the retail and media industries.

The Stoxx Europe 600 index closed essentially flat, after having risen as much as 0.9% during the trading day. ASML Holding NV shares plummeted by 8.5%.

Media and retail stocks outperformed the broader market. Travel-related shares were lifted by companies like TUI Group and Deutsche Lufthansa AG.

Energy shares were the weakest performers, dragged down by heavyweights such as TotalEnergies and Shell. This followed a 7.4% plunge in Brent crude oil futures to $90 per barrel, triggered by the United States halting its nearly two-week-long airstrikes on Iran and signals from Tehran that it would not launch retaliatory attacks.

"I believe the probability of reaching a lasting agreement in the future is now higher," said Stephan Kemper, Chief Investment Strategist at BNP Paribas Wealth Management. "Given that there are almost no significant targets left to strike and air defense capabilities have been degraded, negotiation appears to be the only viable option."