Global stocks rose yesterday but Wall Street opened in mixed territory, as AI-related enthusiasm over the market debut of South Korean chip bellwether SK Hynix led investors to brush off tit-for-tat attacks between the US and Iran.

The Dow Jones Industrial Average was up 0.16 per cent in early trading, to 52,572.69, while the S&P 500 was mostly flat, climbing just 0.06pc to 7,548.32. The Nasdaq Composite was down 0.25pc, to 26,141.32.

While the renewed back-and-forth attacks have further eroded the fragile three-week-old US-Iran ceasefire, markets have mostly taken developments in the Middle East in their stride, although oil prices and their inflationary impact are back on investors’ radar.

European shares were muted yesterday, with…