European stock markets closed mostly higher in Friday trading as oil prices fell amid hopes of a possible agreement between the US and Iran to reopen the Strait of Hormuz.

The Stoxx Europe 600 gained 0.4%, Germany's DAX 40 rose 0.6%, the FTSE 100 edged 0.1% higher, the Swiss Market Index increased 0.3%, and France's CAC 40 was little changed.

Iranian Foreign Minister Abbas Araghchi said Tehran is willing to reopen Hormuz within seven days and restart talks if Washington accepts its conditions, CNBC reported.

In corporate news, UBS has restarted talks about ways to move the bank out from under Swiss regulators' jurisdiction, including through a possible combination with a foreign bank, Semafor reported.

Shares of the Swiss lender climbed 3.6% in Zurich.

Novo Nordisk agreed to a global exclusive license with Nanexa to use its PharmaShell drug-delivery technology in up to five development programs targeting obesity, type 2 diabetes and other cardiometabolic conditions.

Shares of the Danish pharmaceutical company were unchanged in Copenhagen.

AstraZeneca said the US Food and Drug Administration granted priority review to its application for an Imfinzi combination therapy to treat muscle-invasive bladder cancer.

Shares of AstraZeneca gained 0.8% in London.

Telefonica is eyeing a sale of its Venezuelan unit, aims to exit the country within a year with the approval of the US and Venezuelan governments, Bloomberg reported.

Shares of the Spanish telecommunications operator rose 2% in Madrid.

HSBC is charting an expansion of its retail stock-brokerage trade in India after a hiatus of more than a decade, spurred by a growing market of wealthy clients and pipeline of IPOs, Reuters reported Thursday.

Shares of HSBC increased 0.8% in London.

Banco Bilbao Vizcaya Argentaria plans to open a new Miami office focused on investment and corporate banking to expand US operations, Bloomberg reported.

Shares of the Spanish bank advanced 0.8% in Madrid.

TotalEnergies said Thursday its board unanimously backed its plans to propose renewing CEO Patrick Pouyanne's mandate at the May 2027 shareholders' meeting. The board also decided to keep the roles of chairman and CEO combined.

Shares of the French oil and gas company dropped 1.1% in Paris.