Global Markets Mixed: Oil Rebounds Amid US-Iran Clashes; Micron Hits $1 Trillion

Global markets were mixed on Tuesday as oil rebounded amid fresh clashes between the US and Iran near the Strait of Hormuz. Brent crude rose to around $100 a barrel after a 7 per cent slump on Monday. US forces struck targets, while Iran's Revolutionary Guard Corps reported firing at an F-35 jet and drones in Iranian airspace.

Euronext Dublin fell 1.2 per cent, losing about half of Monday's gains. Ryanair was down 1.8 per cent but is valued at €25.10, up over 5 per cent in the past year, after repaying its only outstanding bond. Bank of Ireland dropped 0.7 per cent, AIB 1.3 per cent, and Kerry Group 2.6 per cent to €73.30, down almost 24 per cent over 12 months.

The FTSE 100 closed 0.2 per cent higher despite a 4 per cent drop in BP shares following chairman Albert Manifold's unexpected removal due to «serious concerns». Melrose Industries slipped 5.4 per cent over a «thermal issue» at its California facility. Mining stocks like Metlen Energy & Metals (up 6.5 per cent) were prominent risers. Kingfisher climbed 1.7 per cent, on track for full-year guidance despite declining Q1 like-for-like sales.

European stocks stalled, with the Stoxx Europe 600 down 0.6 per cent, Cac 40 down 1.0 per cent, and Dax 40 down 0.8 per cent. In New York, the S&P 500 and Nasdaq traded near record highs. Semiconductor stocks led gains: Micron jumped almost 17 per cent, hitting a $1 trillion market value after UBS raised its price target to $1,625. Qualcomm rose 5.3 per cent on a deal with ByteDance, while Intel and Marvell Technology also saw gains. The Philadelphia SE Semiconductor index reached an all-time high, up 4.6 per cent.