The Week Ahead: Cairn Homes, FBD and Irish Continental Group AGMs
Markets
The Week Ahead: Cairn Homes, FBD and Irish Continental Group AGMs
Aer Lingus parent IAG, Flutter, and Novo Nordisk are among the firms releasing first-quarter results
Eoin O'Hare
05:00
Cairn Homes, the developer led by chief executive Michael Stanley, is among the Dublin-listed firms facing shareholders this week. Picture: Fergal Phillips
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Irish Times
2 hours ago
- Irish Times
TFI bus fare changes: See how journey prices will change in your area
Sweeping changes to bus fares will take effect from Monday for Bus Éireann and Go-Ahead Ireland services in Dublin and surrounding areas. The changes, which are part of a new Transport For Ireland (TFI) zonal structure, will result in some fares decreasing, some increasing and some remaining unchanged. New daily, weekly and monthly offerings for Leap card customers, based on zones, are also being rolled out. These cover journeys within a radius of some 50km from Dublin city centre. The price changes are being brought in as part of the National Transport Authority's (NTA) latest 'fares determination' plan, which it said would allow fares to be determined 'on a more equitable and easy-to-understand basis'. Bus and rail fares did not align with each other under the previous system but they will be 'fairer and more consistent' under this new 'single structure', TFI says. READ MORE The bus fare changes follow an overhaul of rail fares in the capital and beyond in early May and the introduction of a new zonal structure, which breaks the city and commuter areas as far as Kildare Town, Rathdrum and Navan into four based on proximity to the city centre. The 'TFI 90-minute fare' for journeys under an hour and a half within the new zone 1 – covering areas within a 23km radius of central Dublin – stays at €2 for adults, €1 for young adults/students and €0.65 for children with Leap cards. For Dublin commuter bus services operated by Bus Éireann and Go-Ahead, which are not eligible for the 90-minute fare, the fare for zone 1 travel will be €2.40 for adults and €1.20 for young adults, students and children using Leap cards. The NTA says payment by Leap card offers the best available value for commuters. New bus fares will be introduced from Monday, with prices tied to four commuter zones extending from Dublin city centre to neighbouring counties. Graphic: Paul Scott/ TFI The daily zone 1 fare cap will be €6 for adults, €3 for young adults/students and €1.95 for child Leap cards. The weekly cap will be €24 for adults, €12 for young adults/students and €7.80 for child Leap cards. Zone 1 has monthly tickets, priced at €96 per adult and €48 per young adult/child for all Leap card holders. Annual tickets, priced at €960, are available for adult Leap card customers. Zone 2 covers areas including Blessington, Gormanston, Skerries, Kilcock, Sallins and Naas, Greystones and Kilcoole. From next week, Leap card adult single bus fares in zone 2 will cost €3.70, while young adult/student/child card holders will pay €1.85. Zone 3 covers areas including Trim, Drogheda, Enfield, Newbridge and Wicklow Town. Here, adult bus fares will cost €5.30, while young adult/student/child card holders will pay €2.65. There will be an increase on the single Leap fare from Newtownmountkennedy to Dublin from €2.80 to €3.70. Meanwhile, the adult fare from Wicklow Town to Dublin is set to decrease from €6.16 to €5.30. There is no change to fares on bus services in Wicklow that are part of the Dublin city bus network, such as the L1, L2, L3, L14, L15, 45, 45a, X1 and X2. Zone 4 includes areas such as Navan, Kildare Town and Rathdrum. Adult bus fares in this zone are priced at €3.70 under the new plan, while young adult, student and child card holders will pay €3.15. The fare revisions will take effect on bus services in Kildare, including the 120, 125 and 126, and on bus services in Meath including the 101/X, 103/X, 105/X, 107, 108, 109/A/B/X, 111/A and NX. The new adult Leap fare from Amiens Stre to Newbridge is decreasing from €6.16 to €5.30. The fare for the journey from Newbridge to UCD is also dropping, from €6.16 to €5.30. However, Leap customers travelling from Edenderry to Dublin city centre will see an increase from €7.35 to €8.10. Fares on services operating in Kildare as part of the Dublin city bus network to Leixlip, Celbridge and Maynooth will not change. This includes the C1, C2, C3, C4, W6, L58, L59 and 52. There will be an increase on the single Leap fare from Navan to Dublin from €5.60 to €6.30 and from €7.70 to €8.10 for Athboy. The single Leap fare from Ashbourne to Dublin is to decrease from €3.36 to €2.40, while the fare from Ratoath drops from €3.64 to €2.40. The fare from Dunshaughlin is to fall from €4.06 to €3.70. Customers from Trim will also see their fare reduce from €7.35 to €5.30. For the first time, Leap products will cover travel on town bus services in Balbriggan, Drogheda and Navan.
Irish Times
4 hours ago
- Irish Times
Proposed changes to rent rules will incentivise evictions, housing charity warns
Proposed changes to regulations in the private rental market will only act to incentivise evictions, the housing charity Focus Ireland has said. Its advocacy director, Mike Allen, said he was surprised by the timing of the move, which is expected to see rent levels in newly constructed build-to-let properties in rent pressure zones (RPZs) tied to the rate of inflation rather than capped at 2 per cent. It will also likely give landlords in affected areas the ability to reset rents between tenancies. Mr Allen, who has not been party to the proposals going to Cabinet on Tuesday, said they 'would clearly create incentives for landlords to evict their current tenants so that they could avail of higher, market-related rent for new tenants. READ MORE 'How do you make sure people are safe in those circumstances?' He was speaking at a Raise the Roof press conference on Monday. The trade union-backed group has announced protests over a lack of housing provision, scheduled to take place outside the Dáil next Tuesday, June 17th, and in Cork on Saturday, June 21st. Mr Allen also questioned why the rent moves did not come as part of a broader housing plan due this summer. Focus Ireland's Mike Allen, Siptu's Ethel Buckley, Kate Mitchell, of National Women's Council, and Patrick Nevin, of Irish Traveller Movement, at the Raise the Roof press conference. Photograph: Nick Bradshaw The reported plan is 'essentially a Government policy to increase rents' so as to stimulate investment, he claimed, but there was no reason to believe it would work. 'And if the only housing that can be produced is housing that people can't afford, then that isn't a solution to the housing crisis and it's very, very far from being a solution to the homeless crisis .' [ Housing RPZs: What will a new rental regulation system mean for renters in Ireland? Opens in new window ] Social Democrats TD Sinéad Gibney, one of a number of politicians to attend Monday's event, said the Government 'needs to answer the question: when is rent too high?' The Raise the Roof protest outside the Dáil at 6pm on June 17th, organised by Irish Congress of Trade Unions (Ictu), will coincide with a Private Members' Bill tabled by Opposition parties. Sinn Féin's housing spokesman Eoin Ó Broin said it would 'focus on emergency action, things that the Government can do now'. The measures, he explained, would include a faster return of vacant and derelict properties to social affordable use, as well as initiatives aimed at 'protecting renters'. Siptu deputy general secretary Ethel Buckley said the Government needed to ensure everybody had adequate housing and that workers were able to afford to live in the communities where they worked. 'This is a huge issue for the trade union movement,' she said, 'one that comes up with our members all the time because if they are not struggling with housing themselves, they have grown-up kids who can't afford to move out living with them or have other friends or family impacted by the crisis'. [ Average monthly rent exceeds €2,000 for the first time Opens in new window ] Other backers of the Raise the Roof campaign include advocacy groups representing women, the Traveller community, children and students. Meanwhile, the Irish Property Owners Association said it was concerned the proposed reforms were over-complicated and that a six-year minimum security of tenure would have 'a serious negative impact on private, non-institutional landlords, and on the rental market'. '[They] are unfair on the individual who – for good reason – wishes to, and needs to, rent out their home for a short period, and points to a flaw on the part of the Government thinking which – by going after institutional landlords – has ignored the implications for individual, private landlords,' said its chairwoman Mary Conway.
Irish Times
4 hours ago
- Irish Times
European investors cautious as China-US trade talks consume attention
European shares eased in cautious trade on Monday as investors avoided making big bets pending the outcome of Sino-U. S. trade talks in London. The pan-European STOXX 600 ended slightly lower at 553.24 points, after four straight sessions of gains, its longest consecutive winning streak in three weeks. Dublin Falling slightly from a peak in afternoon trading, the Iseq All-Share index ended the session at a record close of 11,651.80, rising 29.59 points, or 0.25 per cent. READ MORE Shares in Glanbia plc rose 1.50 per cent to €12.83, following the commencement of the company's share buyback scheme on Friday. The Irish food group purchased more than 70,000 of its own shares at an average price of €12.6283. It was a good day of trading for the banking sector. Permanent TSB rose 1.68 per cent to €12.83, and Bank of Ireland rose 0.93 per cent to €12.48. Bank of Ireland remained largely static, dropping 0.14 per cent to €7.07. Insulation specialist Kingspan, remained largely static in trading on Monday after making gains last week following the announcement that it would increase its planned investment in the US roofing business to $1 billion over the next five years. Shares rose 0.26 per cent to 75.75. In housing and construction, Glenveagh rose 1.14 per cent to €1.77, Irish Residential Properties REIT increased 0.93 per cent to €1.09, and Cairn Homes rode the rising sectoral tide to €2.19, up 0.92 per cent. It was a mixed day for leisure and travel stocks, hotel group Dalata rose 0.32 per cent to €6.25, while Ryanair fell slightly, down 0.08 per cent, to €24.26. London The blue chip FTSE 100 index fell 5.63 points, 0.1 per cent, to 8,832.28. The more domestically focused FTSE 250 ended up 128.63 points, 0.6 per cent, at 21,285.91. On the FTSE 100, M & G rose 3.2 per cent as UBS upgraded to 'buy', but WPP fell 2.8 per cent after it said Mark Read will step down as chief executive officer at the end of 2025 after seven years leading the company. In London, shares in Cordel plunged 12 per cent after it warned full-year revenue will be lower than forecast. The London-based company, which uses artificial intelligence to supply transport corridor analytics, expects to report revenue in the range of £4.7 million (€5.6 million) and £5 million for the financial year to June 30th. It would represent growth of up to 12 per cent from £4.4 million the year before. But chief executive John Davis said it will be 'lower than forecast', despite the firm making 'excellent strategic progress' in the financial year. Broker Cavendish lowered its financial 2025 revenue forecast to £4.8 million from £6.2 million. Elsewhere, Dunelm fell 3.9 per cent after RBC Capital Markets downgraded to 'sector perform' from 'outperform', while, Trustpilot slid 5.8 per cent as Panmure Liberum slapped a 'sell' rating on the company. Europe The pan-European Stoxx 600 index remained largely unchanged, down 0.072 per cent, in a quiet day when several markets were closed due to holidays. Trading was thin as markets in Switzerland, Denmark and Norway were among those closed due to the Whit Monday holiday. The utilities sector was among the biggest losers. Often tracked as a bond proxy – a slide in Eurozone bonds pressured the index. China said on Friday that it was willing to accelerate the examination and approval of rare earth exports to European Union firms. Automakers – a sector vulnerable to any rare earth supply disruptions – was flat. Among individual stocks, Spectris soared 60.1 per cent after the scientific instruments maker said it would accept a 3.73 billion pounds (€4.43 billion) bid from Advent. New York Wall Street's main indexes were mixed in mid-amidafternooning on Monday as investors watched a fresh round of US-China negotiations aimed at mending a trade rift that has rattled financial markets for much of the year. Top officials from both countries have kicked off discussions at London's Lancaster House, looking to get back on track with a preliminary trade agreement struck last month that had briefly cooled tensions between the world's largest economies. Nvidia gained as most megacap and growth stocks were up. Tesla was down marginally after brokerage Baird downgraded the stock to 'neutral'. Warner Bros Discovery shares jumped after the company said it would separate its studios and streaming business from its fading cable television networks. Robinhood Markets fell after S&P Dow Jones Indices left S&P 500 constituents unchanged in its latest rebalancing, following recent speculation that the online brokerage would be added to the benchmark index. – Additional reporting, Reuters, PA.
