European shares fell on Wednesday as renewed Middle East hostilities sent oil prices higher. Oil ​prices crept towards the $100 mark, with global benchmark Brent crude ​rising 1.8 per cent to almost $98 a barrel after an Iranian missile attack damaged Kuwait’s airport and the US military carried out strikes ​near the Strait of Hormuz, raising the risk of further supply disruption that could stoke broader inflation.The pan-European Stoxx 600 index dipped 0.7 per cent to 621.19 points.The Organisation for Economic Co-operation & Development (OECD) warned that the war has hit economic growth prospects worldwide, with a more severe shock likely should no effective ceasefire be agreed before 2027.Dublin The Iseq All-Share index edged down 0.4 per cent to 13,115.15, with banking stocks generally out of sorts. AIB lost 1 per cent to €10.09, while Bank of Ireland slipped by 1.7 per cent to €17.25. Travel stocks also lost ground amid rising fuel prices. Ryanair was 2.8 per cent weaker at €24 while Irish Ferries owner, Irish Continental Group, dropped almost 7 per cent to €5.86. Kingspan bucked the downward trend, surging 6.4 per cent to €82.20. Glanbia edged 0.4 per cent higher to €21.90, adding to a 5.2 per cent jump on Tuesday, as the maker of protein powders and shakes benefited from ongoing momentum across whey products, in part linked to the rapid adoption of GLP-1 weight-loss medication, according to Cantor Fitzgerald analysts.London UK shares declined, with the blue-chip FTSE 100 matching Dublin’s 0.4 per cent fall. Services companies suffered ⁠a small contraction in ​activity in May as the strains of ​the Iran war pushed costs up sharply and hit optimism, an S&P Global ‌survey showed.Private equity firm Bridgepoint Group fell 9.8 per cent after Switzerland’s Partners Group said it was capping withdrawals from a separate $8.6 billion (€7.4 billion) private equity fund.Investment manager Ninety One fell ‌4.6 per cent after analysts noted smaller-than-expected ⁠net inflows during the second half of fiscal 2026.Shares of B&M jumped 16.1 per cent after the discount retailer reported a ‌smaller-than-expected drop in annual pretax profit.Another retailer, online fashion group Debenhams soared 14.4 per cent after it returned to ​growth with a 0.5 per cent rise in first-quarter gross merchandise ​value along with a “substantial” increase in core profit. EuropeZara owner Inditex gained 1.5 per cent after reporting a strong start to summer trading, easing worries ‌that inflation could curb consumer spending on a day when the pan-European STOXX 600 index dipped 0.7 per cent to 621.19 points..The ⁠retail subindex rose 1 per cent, making it one of the day’s strongest sectors.Shares in Valeo jumped 18.4 per cent as investors warmed to the French car parts supplier after analysts pointed to growth potential in data centres and ‌energy storage, highlighting the company’s power and thermal management capabilities.AkzoNobel shares fell 17.2 per cent after Nippon Paint and Sherwin-Williams said they had decided to terminate their ​efforts to jointly acquire the paint maker.New YorkWall Street’s main indices were in reverse in early afternoon trading after a run of record ‌highs, while a fresh Middle East flare-up pushed oil prices higher and cast further doubts over a quick end to the war.Stocks and sectors that led gains in recent days logged ​the steepest declines. Software stocks dropped following a sharp rebound. Shares in computer chip designer, Broadcom dipped in advance of the company’s quarterly report which was due after market close. The results are seen as a key test of AI-driven momentum. Marvell Technology bucked the trend and extended its gains, hitting $250 billion (€215.4 billion) in market value a day after Nvidia CEO Jensen Huang called the chipmaker the next “trillion-dollar company.”US Federal Reserve chairman Kevin Warsh pledged to follow “the best of the Fed’s traditions” in a note to staff at the ‌start of his four-year term.GameStop advanced after posting a rise in quarterly revenue and unveiling a $2 ‌billion share buyback programme.Meanwhile, Elon Musk’s SpaceX plans to price its IPO at $135 a share, in advance of a roadshow, to raise a record $75 billion, a source familiar with the matter ​told Reuters on Tuesday. – Additional reporting, Reuters