The European stock markets closed mixed in Tuesday trading as another potential deal between the US and Iran to reopen the Strait of Hormuz falters.

The Stoxx Europe edged 0.1% higher, Germany's DAX gained 0.3%, the FTSE 100 was off 0.2%, France's CAC dropped 0.1%, and the Swiss Market Index fell 0.4%.

In corporate news, InterContinental Hotels Group reported H1 adjusted earnings Tuesday of $2.75 per share, up from $2.43 a year earlier.

Total revenue for the six months ended June 30 was $2.66 billion, compared with $2.52 billion a year earlier.

Analysts' estimates were unavailable for comparison.

Shares of InterContinental Hotels Group increased 0.2% in London.

Diageo challenged India's ban on "McDowell's No. 1 Celebration Matured XXX Rum," arguing it was imposed without due process before labeling-rule consultations were completed, Reuters reported Tuesday.

Diageo's India unit, United Spirits, said the food safety officer lacked legal authority to impose the ban and bypassed the required adjudicatory process, according to the report.

The Mumbai High Court heard the challenge Monday but denied immediate relief and asked the federal government to respond by Aug. 19, the report added.

Diageo did not immediately respond to MT Newswires' request for comment.

Shares of the alcoholic beverage company fell 1.5% in London.

Alcon reported Q2 core earnings late Monday of $0.84 per diluted share, up from $0.76 a year earlier. Analysts polled by FactSet expected $0.75.

Revenue for the three months ended June 30 was $2.78 billion, up from $2.58 billion a year earlier. Analysts expected $2.72 billion.

For full-year 2026, the company now expects core EPS growth of 12% to 15%, versus 10% to 13% previously, and still projects revenue growth of 5% to 7%.

Shares of the eye care company advanced 4.7% in Zurich.

Deutsche Telekom's T-Mobile US unit closed its previously announced spectrum transaction with Grain Management, receiving $2.9 billion in cash and all of Grain's 600 MHz spectrum licenses in exchange for its 800 MHz spectrum portfolio, the company said Tuesday.

The transaction received Federal Communications Commission approval on July 1, the company said.

Shares of Deutsche Telekom increased 1.6% in Frankfurt.