European Stocks Dip on Inflation Concerns, Yemen Conflict Weighs on Oil Prices

The European stock market experienced a slight dip on Tuesday due to concerns over inflation and disruptions in oil supplies. The pan-European Stoxx 600 index closed down 0.05% at 649.60, while the Iseq All-Share index rose 1.1% to 14,536.90.

The increase in oil prices was largely driven by the ongoing conflict in Yemen, where Iran-backed Houthis attacked energy facilities in Saudi Arabia, sending Brent crude near $99 a barrel earlier in the day.

Nutrition-related companies performed well, with Kerry Group rising 2.4% to €88.70 and Glanbia gaining 2% to €22.