Latest news with #Glanbia
Business Post
6 days ago
- Business
- Business Post
From Ryanair to Glanbia: The clues from price-to-earnings ratios every investor should watch
Ryanair boss Michael O'Leary; Lynne Embleton, the chief executive at IAG-owned Aer Lingus; and Hugh McGuire of Glanbia. Picture: Business Post
Irish Times
6 days ago
- Business
- Irish Times
Wall Street boosted by string of upbeat corporate earnings
Global shares were mixed on Wednesday, with most big Wall Street equity indices nudging higher and European shares retreating. Dublin The picture at home was reasonably positive as Euronext Dublin outperformed European peers to finish the day up 0.7 per cent. However, food group Glanbia had a day to forget as it sank 4.7 per cent. A trader suggested the move was rooted in a number of negative reports for peer groups rather than any stock specific news for the company itself. 'One of them was Bellring in the US, which published third quarter results that disappointed the market,' he said. 'They were down a whopping 32 per cent on Tuesday and recovered about 5 per cent today.' READ MORE In the same sector, food giant Kerry Group finished down 1 per cent. Among the home builders, Glenveagh Properties was up 0.8 per cent, while Cairn Homes climbed 0.4 per cent. It was a good day for the banks as Bank of Ireland and AIB climbed 4 per cent and 3 per cent respectively. London British equities closed marginally higher as investors assessed a slew of corporate earnings and awaited an expected Bank of England rate cut on Thursday. The blue-chip FTSE 100 was up 0.2 per cent, rising for a third consecutive session after touching a four-month low on Friday. The domestically focused midcap FTSE 250 rose 0.1 per cent. Heavyweights Shell and BP boosted the benchmark index, up 1.3 per cent and 3.1 per cent respectively. Shares of miner Fresnillo continued gains from the previous session with an 8.9 per cent rise. Conversely, British healthcare stocks slipped 1.4 per cent after Trump said on Tuesday that Washington would initially place a 'small tariff' on pharmaceutical imports, eventually increasing it to 250 per cent. AstraZeneca and GSK were down 1.5 per cent and 1.7 per cent respectively. Europe Shares in European pharmaceutical companies sank to a four-month low after Trump repeated his threats to introduce tariffs on drug imports 'within the next week or so'. Europe's Stoxx Healthcare index slid by 2.8 per cent, falling to its lowest level since mid-April, shortly after the US president's initial 'liberation day' tariff announcements. Bayer, the German maker of products including aspirin, was one of the top fallers in Europe. Its shares slumped 9.9 per cent after the company reported a 5 per cent drop in pretax profit, excluding one-off items, for the first half of the year. The Cac 40 in Paris edged up 0.2 per cent, while the Dax 40 in Frankfurt rose 0.3 per cent. New York Wall Street gained, boosted by a string of largely upbeat corporate earnings, while growing expectations for a Federal Reserve interest rate cut provided additional support. At 11.18am eastern time, the Dow Jones Industrial Average was 0.22 per cent ahead; the S&P 500 advanced 0.54 per cent; and the Nasdaq Composite was up 0.72 per cent. Arista Networks was a standout, soaring 17.5 per cent to an all-time high after the cloud networking company projected current-quarter revenue above estimates. McDonald's was 2.8 per cent higher after the fast-food giant's affordable menu drove global sales past expectations. Global Payments also advanced 5.2 per cent after topping second-quarter profit forecasts, while Match Group, the parent of Tinder, jumped 14.1 per cent after surpassing revenue expectations for the same quarter. Apple jumped 5.2 per cent, providing the biggest boost to the S&P 500 index, as a White House official said the company would announce a $100 billion domestic manufacturing pledge. The stock was on track for its biggest single-day jump in nearly three months. In contrast, Advanced Micro Devices tumbled 7.7 per cent as its data centre chip revenue disappointed. Super Micro Computer plunged 20.7 per cent after missing fourth-quarter sales estimates, dragging rival Dell down 2.4 per cent. – Additional reporting: Agencies
Irish Times
14-07-2025
- Business
- Irish Times
Car stocks drive narrow losses for European shares
European shares ended slightly lower on Monday as investors react to further US tariff rhetoric. Car-makers, considered sensitive to tariffs, were down following further threats of steep tariffs on the European Union, but positive performances by financial and healthcare stocks minimised losses. Dublin The Iseq All-Share index underperformed against its European counterparts, closing at 11,255.58, down 0.99 per cent. The index was weighed down by underperforming big caps with led by the banks amid concerns of the impact of US trade policy on the Irish economy. AIB Group closed down 1.68 per cent to €6.74. READ MORE Bank of Ireland fell 1.36 per cent to close at €11.99, while Permanent TSB closed out a poor day for the banks, falling 0.95 per cent to €2.09. Ryanair closed the day in the red, falling 1.61 per cent to €23.78 following on from recent record highs as the stock faces resistance approaching the €24 mark. Traditional defensive stocks, Glanbia and Kerry Group gained on the day, rising 1.26 per cent and 0.17 per cent respectively, but healthcare services group Uniphar went against the grain to fall 1.73 per cent. It was a largely positive day for the home builders as Cairn Homes rose 1.38 per cent and Ires REIT added 0.98 per cent was spoiled by Glenveagh Properties which lost 0.54 per cent to close at €1.834. London The FTSE 100 went against the trend in Europe and closed at a fresh record high. Investors grew hopeful of future interest rate cuts by the Bank of England, while AstraZeneca's shares gained following positive drug trial results. The blue-chip FTSE 100 rose 0.6 per cent to close at 8998.06 points, nearing the 9000-points mark, while the domestically oriented FTSE 250 index added 0.5 per cent. AstraZeneca climbed 2 per cent after the pharmaceutical giant said its experimental drug baxdrostat succeeded in lowering high blood pressure in a late-stage study of people whose condition was hard to control or treat. Associated British Foods rose 2 per cent after brokerage Panmure Liberum upgraded the retailer's stock to 'buy.' Among other stocks, Ashmore gained 1.4 per cent after the emerging markets-focused asset manager reported slower quarterly net outflows. Europe The pan-European STOXX 600 index closed 0.1 per cent lower. Most regional indexes also declined, except for the UK's FTSE 100, which rose 0.6 per cent to an all-time high. The biggest fallers in Europe were automotive stocks, with Germany's BMW, Volkswagen and Mercedes-Benz all down around 2 per cent each on the growing tariff worries. Shares of US-exposed spirits makers Pernod Ricard and Remy Cointreau fell 1.2 per cent and 3.4 per cent, respectively. Helping limit broader losses, euro zone banks climbed 0.5 per cent, with Italian lenders Banco BPM, BPER Banca and Banca Popolare di Sondrio (BPSO) jumping in the range of 5 per cent to 6 per cent. Germany's Renk gained 4.3 per cent after brokerage Kepler Cheuvreux raised its rating on the defence contractor to 'buy' from 'hold'. At the bottom of the STOXX stood Sweden's Lifco, slumping 9.3 per cent after the consumer goods conglomerate missed second-quarter pretax profit estimates. New York Wall Street traded in choppy waters on in midafternoon trading on Monday as investors shrugged off another round of tariff threats. After a weekend shrouded by tariff talk, investors barely blinked, having grown numb to Trump's barrage of tariff threats and his frequent last-minute U-turns. Investors are also keeping a close watch on tensions between the White House and the US central bank, after economic adviser Kevin Hassett said over the weekend that Trump might have cause to fire Fed chair Jerome Powell, citing cost overruns from the central bank's headquarters renovation. While traders have almost fully ruled out a July rate cut, the probability for a September move stands at around 60 per cent, according to CME FedWatch. Chip stocks came under pressure, with Micron Technology and Intel down. Crypto stocks ticked up after bitcoin topped $120,000 for the first time. Waters Corp dropped double figures after the lab equipment maker agreed to merge with rival Becton, Dickinson and Company's Biosciences & Diagnostic Solutions unit in a $17.5 billion deal. – Additional reporting, Reuters.
Irish Times
01-07-2025
- Business
- Irish Times
Banks and defence sectors weigh on European shares
European shares fell on Tuesday on the back of poor performances from the banking and defence sectors, as uncertainty continues to weigh on investors. London bucked the European trend to close in the green. Dublin The Iseq All-Share index started the third quarter of the year in the red, down 87.71 points to 11,334.00. The Dublin stock exchange's losses were led by Kenmare Resources which dropped 3.61 per cent. Further developments around a possible acquisition of the firm by former boss Michael Carville emerged in recent days. In a mixed day for the banks, AIB fell 2.79 per cent to €6.79, joined by Bank of Ireland which dropped 1.66 per cent to €11.885, while Permanent TSB was steady. Defensive stock Uniphar plc, the healthcare services group, dropped 2.27 per cent to €3.665, while Ryanair dipped 0.83 per cent. READ MORE Of the big caps, Glanbia were the winners on the day, rising 2.64 per cent to €12.83 as its share price continues to recover. LONDON London's internationally oriented FTSE 100 rose 0.28 per cent, while the domestically-focused midcap index added 0.54 per cent. Midcap stocks ended June by logging their best quarter in over four years while the blue-chip index logged monthly losses. Drugmaker AstraZeneca's shares rose 2.7 per cent after multiple sources told the Times that chief executive Pascal Soriot was considering moving the company's listing to the US. Traders are currently pricing in a 78 per cent chance of a rate cut by the Bank of England in August. Precious metal mining stocks led sectoral gains, rising 2.4 per cent as safe-haven gold jumped over 1 per cent on the weaker dollar and US tariff uncertainty. Endeavour Mining and Fresnillo added 2.8 per cent and 1 per cent, respectively. Hochschild Mining gained 5.3 per cent. Losses were led by aerospace and defence index, which declined 2.2 per cent. Rolls-Royce fell 2.9 per cent and Babcock lost 2.5 per cent. Food retailer Sainsbury's shares slid 1.1 per cent despite reporting a higher-than-expected rise in quarterly sales. Standard Chartered Bank shares fell 2 per cent after liquidators for Malaysia's sovereign wealth fund 1MDB sued the bank in Singapore alleging fraud that led to more than $2.7 billion (€2.29) in losses more than 10 years ago. In other news, Britain's competition watchdog cleared Aviva's £3.7 billion ($5.08 billion) takeover of smaller rival Direct Line that will create the UK's largest home and motor insurer. Shares of Aviva were up 0.8 per cent, while those of Direct Line rose 0.5 per cent Europe European shares ended slightly lower on Tuesday, with industrials and banks the biggest drags as investors weighed uncertainty over US trade deals with the July tariff deadline fast approaching and discussions on a US tax bill. The pan-European STOXX 600 index closed 0.2 per cent lower, coming off a more than 1 per cent fall for the month of June. Most regional bourses clocked declines, though UK's blue-chip FTSE 100 was an outlier with a 0.3 per cent rise. Industrials led losses among the major STOXX subsectors with a 1.7 per cent fall. Defence-related companies including Germany's Rheinmetall, Sweden's Saab and Italy's Leonardo all fell more than 5 per cent each. Banks also slid 1.3 per cent, with Germany's Deutsche Bank down the most with a 3.6 per cent decline. New York The S&P 500 and the Nasdaq fell from record highs in midafternoon trading on Tuesday, as Tesla shares were hit by a renewed spat between chief executive Elon Musk and US President Donald Trump, while better-than-expected economic data backed the US central bank's patient stance on rate cuts. Tesla dropped after Mr Trump threatened to cut off the billions of dollars in subsidies that Mr Musk's companies get from the federal government, after Mr Musk revived his criticism of Mr Trump's wide-ranging tax-cut and spending bill. The major indexes were mixed, but technology stocks led the decline among the major S&P sectors, while material stocks and the healthcare sector climbed. Shares of US-based casino operators rose after Macau reported a rise in June gambling revenue. Wynn Resorts and Las Vegas Sands, as well as MGM Resorts International climbed. – Additional reporting, Reuters, PA.
Irish Times
27-06-2025
- Business
- Irish Times
Earnings and trade talks boost market
Markets surged on Friday on strong earnings news along with hopes of a deal in the US-China trade row and increased likelihood of an interest rate cut. Dublin The Irish market's leading stocks performed well on Friday. Insulation maker Kingspan climbed 2.4 per cent to €72.65. Food group Glanbia added 2.68 per cent to €13.04 while rival Kerry advanced 1.62 per cent to €94.20. READ MORE Ryanair dipped 0.9 per cent to close at €23.72. The banks also lured buyers. AIB added 2.15 per cent to €6.90 while peer Bank of Ireland rose 2.91 per cent to €12.03. Permanent TSB climbed 1.01 per cent to €1.995. London London's indeces climbed on Friday boosted driven by global optimism over earnings, trade policies and easy monetary policy. The blue chip FTSE 100 rose 0.7 per cent while the domestically oriented FTSE 250 jumped 1.1 per cent to close at its highest level since February 2022. Markets have rebounded in recent weeks due to easing concerns over the Middle East conflict, signs of US-China trade negotiations and potential for US interest rate cuts. JD Sports was among the top gainers on the blue-chip FTSE 100, advancing 7.6 per cent to 87.88 pence sterling after US rival Nike's upbeat earnings bolstered sportswear brands. Unilever shares rose 1 per cent to 4,432p after the Financial Times reported it was buying men's personal care brand Dr Squatch from private equity firm Summit Partners for $1.5 billion (€1.3 billion). On the flip side, the FTSE 350 precious metals and mining index dropped 4.4 per cent as gold prices tumbled following a ceasefire between Iran and Israel. Fresnillo fell 4.2 per cent to 1,433p while Endeavour Mining slid at the same rate to close at 2,176p. Hochschild Mining shed 2.6 per cent to 251.8p. Europe European stocks closed at an over one-week high on Friday, fuelled by a rally in automakers, as investors took more risks on hopes for a truce in the US-China trade spat. The pan-European STOXX 600 index closed 1.1 per cent higher, snapping a two-week losing streak and posting its first weekly gain in three. German stocks notched their strongest weekly rally in two months, while France and Spain's main indexes clocked their best weeks in over a month. European auto stocks and the luxury sector particularly sensitive to China-related headlines, jumped 4.1 per cent and 2.5 per cent respectively, steering sectoral advances. Porsche jumped 7.6 per cent after newspaper Handelsblatt reported that the carmaker was looking to sell its consulting and IT services business MHP, which could be worth more than €1 billion. The STOXX 600's energy sector suffered its first drop in weeks. The industry lost steam as oil prices plunged, after fears of a closure of the Strait of Hormuz – crucial to global supply – subsided following a 12-day conflict between Israel and Iran. US Wall Street pushed stocks toward fresh all-time highs after Friday's economic data eased concerns about the impacts of tariffs. Signs that the US economy shrank in the first three months of the year while people reined in spending sparked hopes that central bankers will cut interest rates again this year. Sportswear giant Nike was up 15.5 per cent at $72.17 (€61.68) shortly after 6pm Irish time after the group pledged to cut production for the US market in China. The company reported a year-on-year 12 per cent decline in revenue to $11.1 billion, but its 14 cent per share earnings beat market expectations, prompting investors to back the stock. The main Wall Street indexes – the S&P 500 and the Nasdaq – touched intraday record highs on Friday with technology stocks in the lead. Prices paid by consumers for goods and services rose 2.3 per cent overall in the US last month. Analysts argued that they showed little impact from tariffs on imports. The Fed, the US central bank, expects inflation to rise during the summer months, but if this does not materialise, it has indicated that it will cut interest rates.
