Volkswacht Bodensee - Oil falls, stocks mixed as investors eye tech, US-Iran talks

Brent crude futures, the international benchmark, retreated close to three percent on renewed hopes that a deal to reopen the blockaded Strait of Hormuz was on track.

European markets moved higher in midday trading, with Paris and Frankfurt each gaining more than 0.5 percent, while London edged higher.

In Asia, markets were mixed overall but South Korean chipmaker SK hynix jumped 11 percent to hit a $1 trillion market capitalisation, placing it alongside regional tech heavyweights Samsung Electronics and TSMC.

It followed a strong session on Wall Street, where the S&P 500 and Nasdaq notched fresh record highs. US chipmaker Micron piled on nearly 20 percent to also hit a $1 trillion market cap.

"The tech boom is back," said Kathleen Brooks, research director at trading group XTB.

"The surge higher in US stocks is boosting Europe, where sentiment remains high," she added.

Investors also monitored negotiations between Washington and Tehran to end the Middle East war, after hopes for a breakthrough were tempered by fresh US strikes against Iran on Monday.

Iran's Revolutionary Guards said Wednesday that a return to war with the United States was unlikely, while warning that it stood ready against any attack.

The statement came a day after Iran accused Washington of breaching the ceasefire in place since April 8.

The Middle East war, which began in late February, has disrupted the Hormuz strait, a vital oil and gas trading corridor, driving up energy prices and stoking global inflation.

"The hope will be that this is finally the week when a real breakthrough is achieved, but should negotiations fail then we could see market patience wear thin," said AJ Bell investment director Russ Mould.

"Even if an agreement is reached, it will take time to get energy infrastructure fully back online and shipments flowing through the Strait of Hormuz at anywhere near pre-war levels," he added.

- Key figures at around 1100 GMT -

Brent North Sea Crude: DOWN 2.9 percent at $96.71 a barrel

West Texas Intermediate: DOWN 3.9 percent at $90.19 a barrel

London - FTSE 100: UP 0.2 percent at 10,509.88 points

Paris - CAC 40: UP 0.9 percent at 8,249.56

Frankfurt - DAX: UP 0.6 percent at 25,338.83

Hong Kong - Hang Seng Index: DOWN 1.1 percent at 25,328.23 (close)

Tokyo - Nikkei 225: FLAT at 64,999.41 points (close)

Shanghai - Composite: DOWN 1.3 percent at 4,093.73 (close)

New York - DOW: DOWN 0.2 percent at 50,461.68 (close)

Euro/dollar: UP at 1.1640 from 1.1635 on Tuesday

Pound/dollar: DOWN at 1.3438 from $1.3449

Dollar/yen: UP at 159.38 from 159.30 yen

Euro/pound: UP at 86.60 from 86.49 pence

P.Keller--VB