April 17 (Reuters) - A subdued STOXX 600 was on track to notch its fourth straight weekly gain on Friday as cautious investors waited for a potentially pivotal weekend that could bring the Middle East conflict closer to resolution.
The pan-European stock index was down 0.04% at 616.71 points, as of 0714 GMT, and it remained on track to record modest gains for the week.
Regional bourses were largely muted, with Germany's DAX up 0.1% and London's FTSE 100 fell 0.08%.
Investors appeared hesitant to make significant moves following last weekend's unsuccessful negotiations, adopting a wait-and-see approach.
The crucial Strait of Hormuz continues to operate under severe restrictions, further complicating the picture.
The ongoing conflict has cast a shadow over European corporate prospects, even as expectations for strong first-quarter earnings remain.
While the STOXX 600 has recovered considerable ground since hostilities erupted in late February, elevated oil prices continue to pressure the energy-dependent European economies. As a result, European equities have not regained their pre-conflict appeal among investors.
Consumer discretionary rose 0.4%, leading the sectoral gainers. Industrials fell 0.5%, remaining at the bottom of the benchmark index.
Among individual stocks, online food ordering firm Delivery Hero gained 3% after Uber raised its stake in the company.
(Reporting by Ragini Mathur in Bengaluru; Editing by Janane Venkatraman)
