European shares rise amid Trump's China statements
European shares made cautious gains after US president Donald Trump said on Friday that China had violated an agreement on tariffs and issued a new threat to get tougher with Beijing.
Europe's defensive sectors, such as utilities and healthcare, outperformed the big performers amid the tension between the world's two biggest economies.
DUBLIN
The Iseq All-Share index ended the session at 11,411.72, dropping 63.45 or 0.55 per cent. The index opened on a high, but a late surge was unable to counteract steady losses throughout the day.
READ MORE
Ryanair was one of the biggest losers in the day, and by far the most traded stock, dropping 1.56 per cent to €23.37. It came following the news that shares in the budget airline closed above €21 for a 28th consecutive day on Thursday, meeting a key performance target, with boss Michael O'Leary reportedly set to net a €100 million bonus as a result.
Home builders declined on Friday, Cairn Homes dropped 2.89 per cent to €2.185. Kingspan Group fell 1.50 per cent to €75.50 and Irish Residential Properties REIT plc dropped 0.74 per cent to €1.072. Glenveagh Plc also retreated, dropping to €1.798, a decrease of 0.33 per cent.
These losses were counteracted by defensive stocks Glanbia and Kerry Group, up 1.59 per cent to €12.80 and 0.05 per cent to €96.20 respectively.
LONDON
British equities ended higher on Friday. The blue-chip FTSE 100 gained 0.6 per cent and the midcap FTSE 250 rose 0.1 per cent. The benchmark index posted its best month in four. The mid-cap index posted its best month since July 2024.
M&G said it had partnered with Japanese life insurer Dai-ichi Life to accelerate the group's expansion into European private markets, and give it greater access to markets in Japan and across Asia.
Dai-ichi Life plans to buy a 15 per cent stake in M & G as part of the deal, the firm said, which would make it the largest shareholder in the British investment firm. Shares in M & G rose 5.5 per cent on Friday, making it the biggest riser on the FTSE 100.
BP announced it has appointed David Hager to its board of directors, who joins following a 40-year career in the oil and gas industry, including as the former chief executive of Devon Energy.
Mr Hager 'brings deep-rooted knowledge of the US upstream oil and gas industry', BP's chair Helge Lund said. BP's shares closed 0.5 per cent higher.
EUROPE
The continentwide STOXX 600 index ended 0.1 per cent higher, brushing off a temporary reinstatement of the most sweeping of Trump's tariffs on Thursday, a day after another court ordered an immediate block on them.
On the day, most sectors were higher, with utilities and healthcare shares up 0.8 per cent each, while construction and materials stocks were at the bottom, down 1 per cent.
Europe's aerospace and defence index was the top winning sector for the month, up about 14 per cent, as dimming hopes of a truce between Russia and Ukraine persuaded investors to buy ammunition stocks.
M&G gained 5.5 per cent after it said Japanese life insurer Dai-Ichi Life Holdings will take a 15 per cent stake in the British insurer and asset manager as part of a strategic deal.
French pharmaceutical company Sanofi fell 4.8 per cent to a more than one-year low after its experimental drug Itepekimab failed to meet certain conditions.
Carrefour fell 6 per cent to the bottom of the STOXX 600 as the French food retailer traded without entitlement to its latest dividend payout on Friday.
NEW YORK
Wall Street's main indexes were under pressure in late-afternoon trading on Friday as Mr Trump accused China of violating a tariff agreement, ramping up tensions in a bruising trade war and clouding the last day of an otherwise strong month for equities.
Most megacap and growth stocks fell, with Nvidia dropping in the aftermath of its results-driven rally on Thursday.
Seven of the 11 big S&P 500 subsectors fell, with energy and information technology declining the most.
Among other big movers on the day, Ulta Beauty jumped after the cosmetics retailer raised its annual profit forecast after beating quarterly results.
Shares of drugmaker Regeneron fell sharply after its experimental drug for patients with a type of lung condition commonly called 'smoker's lung' failed a late-stage trial, although it succeeded in another. – Additional reporting: Reuters, Bloomberg, PA.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Irish Independent
2 hours ago
- Irish Independent
C&C must get ‘back to basics' on brands, says CEO of Bulmers firm
Roger White, who has been in post for 132 days, said criticism that C&C's branded drinks portfolio, which also includes Tennent's lager, had been stagnant for some time 'were valid'. 'I think it is an indication that we need to love what we have got a bit more first,' he told the Sunday Independent. 'I think the criticism, as you suggested, is valid. I don't think we have done anything of any material nature to stretch the brands we have got, to develop them to bring customers and consumers anything new and exciting. 'It doesn't need to be strategically earth-shattering, just stretching Bulmers and Tennent's,' he added. 'These are brands that can carry innovation, that can carry new things into the market, that can carry limited editions. They just need a bit of 'new news'. We need to keep them fresh and at the centre of consumers' minds.' White said the UK-listed drinks group had a strong balance sheet capable of making acquisitions. However, this was not his 'primary objective' at the moment, with the current focus on improving what C&C already owns. 'I think it would be stupid of me to say that we are definitely not doing anything because we have got the financial capacity, and if the right thing comes along that creates the right amount of value for shareholders, then it is incumbent on us to fully review it,' he said about acquisitions. 'But it is not our primary focus.' White was speaking after C&C released its results for the year ended February 28. While revenue was flat at €1.66bn, pre-exceptional operating profit jumped 29pc to €77.1m, with Tennent's and Bulmers securing market share gains. The positive results come after a turbulent period for C&C. Last year, the Bulmers maker's former CEO, Patrick McMahon, stood down following accounting errors at the company. Shareholder Engine Capital also called for a sale of the business, describing it as a 'perennial underperformer'. White said C&C's results for the year were 'solid rather than outstanding' as the business looks to bounce back from previous problems. 'I think this is a bit of a recovery year,' he said. 'We are happy that we put in a solid, resilient performance across the group. It is good to see customer service levels across our business recovering, giving our customers increased levels of support. 'My focus is really on simplification, focusing on execution, getting everybody focused on their customers and trying to get hold of what are great brands and make them even better by developing them and bringing something new to customers in all our markets. Something that is valuable to them, tangible and will improve all their businesses.' Asked what the market could see C&C do with its brands, White said some examples could include enhancing its low and no-alcohol offerings and bringing 'excitement and interest both in the liquid and the packaging to bear'. Magners, the UK equivalent of Bulmers, is currently undergoing a revamp in the market. White said this would include a new marketing campaign, refreshed packaging, and improving the zero-alcohol proposition 'in the short term'. 'I don't think there is any particular rocket science,' he said. 'It is just giving the brand the love it needs. 'It is a brand with lots of equity. So consumers know the brand, they recognise it, and there is no awareness issue with it. We just need to move it back up their purchase intent. That is about getting front of mind and reminding people what is great about the brand.' C&C also owns the Five Lamps lager brand in Ireland, which has been marketed as a Dublin-brewed craft beer-style product. The craft beer industry has undergone its own challenges in recent years. How will C&C enhance the Five Lamps brand? White said there was 'work to do'. 'We need to be really clear how we are going to support and get behind some of these smaller brands like Five Lamps. I think the product is good. 'If I was brutally honest, I don't think there has been a particularly well-thought-through plan of how we are going to grow and develop some of these smaller brands.' Following last year's calls from Engine Capital for C&C to sell some of its assets, the drinks group struck a deal with the US-based activist investor that would see it appoint a new non-executive director. I've still got to fully understand how the business all works, how it all fits together White said there are no reviews about selling brands. 'As far as I'm concerned, we have got a clean slate. From my point of view, that is why I took this job. I've still got to fully understand how the business all works, how it all fits together, what we can do with our brands and how we can create value over the long term for shareholders. 'I would say I have plenty of work to do to get my head around that. But, we are focused on the basics just at the minute.' Looking to the year ahead, there appears to be some optimism around C&C, reflected in its share price jumping by over 3pc in London at one stage following its results announcement. We have had a nice few weeks of weather, which always makes you feel a little bit better White, who was the boss of Irn Bru maker AG Barr, is well-versed in leading a business through a period of transformation. He is now looking forward to working on his plan, no matter the challenges that come his way. 'We have had a nice few weeks of weather, which always makes you feel a little bit better about life,' he said. 'It has been an encouraging start to the year. But, we are still very conscious that hospitality in all geographies is tough.'
RTÉ News
5 hours ago
- RTÉ News
Ban on sale of single-use vapes comes into effect in NI
A ban on the sale and supply of single-use vapes comes into effect in Northern Ireland today. It means that for a time at least there will be different approaches on both sides of the border. In the Republic, the Government is drafting equivalent legislation, but it is not ready yet. Notification to the EU will also delay implementation for a number of months. The Irish Heart Foundation has said while the situation persists children in the north are being better protected than those in the south and wants the Government to fast-track the law. The cabinet agreed to implement a ban last year, but work was interrupted when the Dáil was dissolved for the election. The new law in Northern Ireland makes it a criminal offence to sell or supply single-use vapes with a maximum penalty of up to two years in jail and a fine. Businesses have been given six months to prepare for the change by selling existing stock. Similar laws are being enacted by devolved administrations in England, Wales and Scotland today too, effectively making it a UK-wide ban. It is estimated that five million disposable vapes are thrown away in the UK every week. Stormont Environment Minister Andrew Muir said it was a "milestone day". He said the Executive had been prompted to act by the environmental and health risks posed by single-use vapes. Many are littered by users, and the product has proven popular with young teenagers who sometimes progress to tobacco products. Paper stickers, which users must remove to activate the vape are routinely stuck on litter bins creating an unsightly mess. There have also been concerns that the multitude of flavours and the branding is marketing the products at children. "The environmental consequences around this are significant. We're also very aware that in terms of disposable vapes they can be much more attractive for younger people, and we want to be able to tackle that," Minister Muir said. Research in Northern Ireland shows that one in five of 11–16-year-olds have tried vapes, even though the legal age for purchase is 18. The Irish Heart Foundation said it had taken a considerable period to get agreement on a single use vapes ban over the line in the Republic, and it now wanted to make sure there was rapid progress. Director of advocacy with the Irish Heart Foundation Chris Macey said: "We're sort of lagging a bit behind. I suppose our concerns is that it took years to get the ban on the sale of vapes to U-18s over the line and we just want to make sure there's no undue delay on this occasion because as long as there is children in this part of the country won't be as well protected as children in the north." Mr Macey added: "Disposable vapes have been a big contributor to the explosion of youth vaping in Ireland and everything that goes with that, the nicotine addiction that is seen by research to be a likely gateway into smoking, which is still killing 12 people a day in Ireland." Mr Macey said research showed that children who vape are three to five times more likely to end up smoking, and statistics showed that around a third of 15-16-year-olds in the Republic have vaped.
Irish Daily Mirror
6 hours ago
- Irish Daily Mirror
Michael O'Leary set to have funds for horse buying spree as Ryanair stocks soar
Michael O'Leary may soon have a sizable sum for his horse-buying interests, as the Ryanair chief is set to receive over €100 million in share bonuses. The longtime CEO has qualified for the payout after Ryanair's stock reached a performance milestone set six years ago. Shares in the Dublin-based budget airline have closed above €21 for 28 consecutive trading days, meeting the threshold established in February 2019. The condition required this sustained share price level to be achieved before 2028. It would provide him with 10 million shares worth around 111.2 million euros (£93.4 million). O'Leary will receive the share package if he stay with the business, which he has led since 1994, until 2028. Ryanair shares sat at 23.28 euros on Friday despite dipping slightly from their peak the previous day. Ryanair has been contacted for comment. When asked about the share option earlier this month, Mr O'Leary said: 'I think we're delivering exceptional value for Ryanair shareholders in an era when Premiership footballers and managers are getting paid 20-25 million a year. 'I think Ryanair shareholders are getting a particular value out of our share options – both mine and the rest of the management team.' Rival low-cost rival carrier Wizz Air has a similar pay pledge for its chief executive Jozsef Varadi, which would provide him with £100 million worth of bonuses if its share reached £120 by 2028. Its shares are currently valued at around £16.
