Global markets were mixed and oil rebounded on Tuesday as fresh clashes between the US and Iran clouded the outlook for an interim deal to reopen the vital Strait of Hormuz.The price of trademark Brent rose to around $100 (€86) a barrel after slumping more than 7 per cent on Monday. US forces hit targets near the strait, while the Islamic Revolutionary Guard Corps said it fired at an F-35 fighter jet and several drones after they entered Iranian airspace.DublinEuronext Dublin finished the day down 1.2 per cent, giving up about half the gains it made on Monday, with most of the major names in the red at the closing bell.Budget airline Ryanair was down 1.8 per cent, but the airline’s stock has enjoyed a good run of late – including a bounce of 5 per cent on Monday – and is still valued at €25.10, which represented a rise of more than 5 per cent over the past year.The company said on Monday it had repaid its only outstanding bond, leaving it effectively debt-free for the first time since the company was listed in 1997.The financial names also saw their share prices decline over the day, with Bank of Ireland and AIB down 0.7 per cent and 1.3 per cent respectively. The biggest loser on the day was food ingredients giant Kerry Group, which sank 2.6 per cent to €73.30. The company’s share price is down almost 24 per cent over the past 12 months.LondonThe FTSE 100 closed 0.2 per cent higher, although a fall in oil major BP after the unexpected departure of BP chairman Albert Manifold limited gains. The FTSE 250 ended up 0.7 per cent, and the AIM All-Share rose 1.5 per cent.Manifold’s unexpected exit saw shares in the oil major drop 4 per cent. The firm said he had been removed as chairman and director, citing “serious concerns” that were raised to the board.Melrose Industries slipped 5.4 per cent as it said the evacuation zone around its facility in California had been downsized, as specialists worked to resolve “a thermal issue” at the site.Autotrader fell 3.4 per cent as analysts continued to adopt a cautious stance after last week’s results.Mining stocks were prominent risers with Metlen Energy & Metals up 6.5 per cent; Antofagasta up 3.7 per cent; Endeavour Mining up 3.5 per cent; and Glencore up 2.9 per cent.Kingfisher climbed 1.7 per cent as the London-based home improvement products retailer said like-for-like sales for its first quarter to the end of April declined against a “soft market backdrop” but added it was on track to deliver its full year guidance.EuropeA six-day rally in European stocks stalled as oil rebounded on the reports of fresh clashes between Iranian and US forces in the Hormuz Strait.The Stoxx Europe 600 slipped 0.6 per cent as the clashes highlighted the tension between the two sides just hours after US president Donald Trump said talks to end the war were “proceeding nicely”.In other equity markets, the Cac 40 in Paris ended down 1.0 per cent, and the Dax 40 in Frankfurt fell 0.8 per cent.New YorkThe S&P 500 and the Nasdaq traded near record highs, with AI-fuelled optimism offsetting concerns over Middle East peace talks.Semiconductor stocks, which have surged on artificial intelligence-driven demand, led gains. Micron jumped almost 17 per cent and hit $1 trillion (€860 billion) in market value for the first time after UBS increased its price target on the stock to $1,625 from $535.Qualcomm rose 5.3 per cent after Bloomberg News reported it reached a deal with TikTok owner ByteDance to supply chips, while Intel and Marvell Technology added 2.7 per cent and 4.2 per cent, respectively. The Philadelphia SE Semiconductor index rose 4.6 per cent to an all-time high. (Additional reporting: Agencies)