UK defence stocks rose markedly on Tuesday following UK prime minister Andy Burnham’s surprise move to appoint John Healey as new chancellor of the exchequer.Healey was defence secretary in Keir Starmer’s government, but left the position after deeming defence investment unveiled by the former prime minister to not be sizeable enough.Following Healey’s appointment, London-listed defence stocks rose markedly. Shares of Babcock International were up 4.1 per cent, Qinetiq gained 3.1 per cent and BAE Systems added 1.8 per cent.DublinThe Iseq All-Share Index advanced marginally by 1.8 per cent to close at 13,691.82.Driving this gain was AIB, which recorded a 4.76 per cent rise in share price to €10.86, while Bank of Ireland’s gain during the day wasn’t far behind, rising 4 per cent to €18.29Kenmare Resources, led by managing director Tom Hickey, matched the gain recorded by AIB during the day, with its shares up 4.76 per cent to €2.20.Shares slumped at Irish Continental Group by 1.25 per cent to €6.30, while food firms Kerry Group and Glanbia saw share prices fall by 0.97 per cent and 0.61 per cent.Filings today also showed Fidelity Investments vehicle FMR LLC, the Delaware-based investor, has continued to increase its stake in Cairn Homes.At the beginning of the month, its shareholding in the company was below 5.8 per cent, but in recent weeks has grown to 6.1 per cent. LondonThe UK’s FTSE 100 ended slightly higher, up 0.6 per cent at 10,585.91, on Tuesday as the new chancellor Healey reiterated his commitment to fiscal discipline.Healey said he wants to build “new hope” for Britain, as he addressed staff at the Treasury for the first time.Healey also promised fiscal control would be his “first duty”, as he said it would be the “bedrock of economic stability”.During the day, precious the UK’s metal miners led sectoral gains tracking a rise in gold prices from $4,011 (€3,516) an ounce at Monday’s close to $4,077.93 on Tuesday.Shares at Antofagasta ended 5.8 per cent higher, while Fresnillo also climbed 4.4 per cent and Endeavour Mining finished up 3.8 per cent.British oil majors ​BP and Shell also recorded share price rises of more than 1 per cent as crude prices touched a five-week high after attacks between the ⁠US and Iran.EuropeEuropean stocks rebounded on Tuesday, up 0.6 per cent to 643.19 points at close, which broke a two-day losing streak.Shares rose as gains in technology and mining shares took the focus away from fresh strikes in the Middle East, which pushed oil prices higher.On Tuesday, technology stocks rose 2.1 per cent, the ​most on the index, with Dutch-based semiconductor firms ASMI and ASML gaining 5.4 per cent and 4.7 cent.Meanwhile shares at building materials firm Wienerberger fell 4.1 per cent to their lowest since 2022. The decline came after the company issued a full-year profit warning, citing deterioration in new-build activity. Swiss bank Julius Baer dipped 4 per cent despite reporting stronger-than-expected first-half net new money inflows, while lift maker Schindler dropped 5.4 per cent after its quarterly sales missed market expectations. New YorkIn early afternoon trading, there were broad gains in New York, with the Dow Jones up 0.7 per cent, the S&P 500 0.8 per cent higher and the Nasdaq climbed 1.2 per cent.The gains came after three consecutive sessions of losses for the main indexes.On Tuesday afternoon, brent oil was higher at $91.36 dollars a barrel compared to $88.07 dollars late on Monday, after Iran stepped up its attacks in the Middle East on Tuesday, two weeks after its war with the US resumed.Later this week, investor focus this week will turn to results from Alphabet and Intel, which could help determine whether the AI trade has further room to run amid elevated profit expectations.Investors will also monitor fresh threats from President Donald Trump on Monday to unveil 50 per cent tariffs on a wide range of imports from Canada.