Latest news with #Iseq
Irish Times
3 days ago
- Business
- Irish Times
Iseq surges to all-time high after ECB rate cut
The Irish stock exchange surged to a fresh all-time high on Thursday, following the news that the European Central Bank (ECB) was 'getting to the end' of a rates cycle which has seen eight consecutive cuts. The pan-European Stoxx 600 index edged up 0.2 per cent in reaction to the news. DUBLIN The Iseq All-Share index ended the session up 2.07 per cent, 234.84 points, to 11.606.50. READ MORE The banking sector saw a sharp rise in response to the ECB announcement, Bank of Ireland rose 3.84 per cent to €12.44, with AIB coming in just behind that rise, up 3.74 per cent to €7.07. Permanent TSB broke the sectoral continuity, falling 1.94 per cent to €1.77. Kingspan closed up 2.97 per cent in reaction to news that the company is set to make a $1 billion (€900 million) capital investment into the US over the next five years, an increase on its previous budget of $750 million. A series of defensive stocks also rose on the day, Kenmare rose 3.11 per cent, Glanbia followed suit rising 2.71 per cent and Uniphar closed 2.24 per cent. LONDON Britain's benchmark index closed a shade higher on Thursday with mining stocks leading gains, tracking higher metal prices in a choppy session as investors looked for new developments on the trade front, while a drop in Wizz Air shares hit midcaps. The blue-chip index FTSE 100 ended 0.1 per cent higher, marking its fifth consecutive single-day gain, while the midcap index fell 0.2 per cent. Industrial metal miners were among the top gaining subsectors, up 1.8 per cent as copper prices touched a two-month high. A gauge for precious metal miners also climbed 3.5 per cent. Losses in advertising group WPP and top food retailer Sainsbury's kept a lid on gains in the blue-chip index, as their shares traded without entitlement to a dividend. Among midcaps, Wizz Air plunged 27.9 per cent after the budget carrier reported an approximately 62 per cent slide in annual operating profit, citing capacity constraints due to grounded planes. Other airline stocks like EasyJet and IAG declined about 1 per cent each. On the flip side, Dr Martens jumped 25.8 per cent after the bootmaker forecast a return to profit growth in the current financial year. EUROPE The pan-European Stoxx 600, which was initially in positive territory, abruptly reversed course, crawling into the red as Lagarde's remarks about the bank being 'well-positioned' to handle global economic uncertainty sent a signal to investors to temper dovish expectations. The benchmark index finally edged up 0.2 per cent. The banking sector bounced back from an early dip to emerge as the day's top sectoral performer, benefiting from the prospect of rates staying higher for longer. Conversely, the rate-sensitive real estate sector, initially buoyed by the rate cut, saw its gains evaporate after Lagarde's remarks, closing 0.2 per cent lower. The broader consumer discretionary segment bore the brunt of the market's recalibration, with food and beverage stocks – seen as bellwethers for consumer spending – suffering the steepest declines. Luxury stocks, another segment heavily reliant on consumer confidence, trailed closely behind as the second-worst performer. Elsewhere, industrial metal miners climbed 1.4 per cent, on the coattails of surging copper prices which touched a two-month high. Wise gained 7.1 per cent after the money transfer company said it intends to move its primary listing to the US from London. Bayer was up 4.4 per cent after Goldman Sachs upgraded the German chemicals group to 'buy' from 'neutral'. NEW YORK Wall Street indexes rose on Thursday in mid afternoon trading after US President Donald Trump and Chinese leader Xi Jinping agreed to negotiate on tariffs that have weighed on global markets, while investors awaited a key jobs report to gauge the labour market's health. Seven of the 11 major S&P 500 subsectors rose, with information technology shares leading the gains. Tesla shares fell as much as 5 per cent during the day. Chief executive Elon Musk and self-proclaimed 'First Buddy' of Trump has stepped up criticism of the president's massive tax legislation in recent days. Brown-Forman had dropped the most on the S&P 500 in mid afternoon trading, after the Jack Daniel's maker forecast a decline in annual revenue and profit. Procter & Gamble said it will cut 7,000 jobs, or about 6 per cent of its workforce, over the next two years, as part of a restructuring. Shares of the consumer goods bellwether fell 1.2 per cent. – Additional reporting, Reuters, PA.
Business Post
22-05-2025
- Business
- Business Post
German 30 year bond yields hit two month high
DUBLIN The Iseq All Share opened in the red on Thursday, falling 0.34 per cent (-39.24bps)... Jakob Stausholm, the chief executive of Australian mining firm Rio Tinto will step... German long-term bond yields hit a two-month high on Thursday, as investors' concerns... London's FTSE 100 began Thursday's trade in the red, following the trend seen... The Iseq All Share opened in the red on Thursday morning and dropped 0.35 per cent... The European Union's investment vehicle is investing €40 million in a dedicated... Profits at Telegram leapt to $540 million last year, as the messaging app achieved...
Business Post
22-05-2025
- Business
- Business Post
Profits at Telegram jumped to $540 million last year
DUBLIN The Iseq All Share opened in the red on Thursday, falling 0.34 per cent (-39.24bps)... Jakob Stausholm, the chief executive of Australian mining firm Rio Tinto will step... German long-term bond yields hit a two-month high on Thursday, as investors' concerns... London's FTSE 100 began Thursday's trade in the red, following the trend seen... The Iseq All Share opened in the red on Thursday morning and dropped 0.35 per cent... The European Union's investment vehicle is investing €40 million in a dedicated... Profits at Telegram leapt to $540 million last year, as the messaging app achieved...
Business Post
22-05-2025
- Business
- Business Post
Iseq opens red and Glenveagh shares drop despite strong delivery forecast
DUBLIN The Iseq All Share opened in the red on Thursday, falling 0.34 per cent (-39.24bps)... Jakob Stausholm, the chief executive of Australian mining firm Rio Tinto will step... German long-term bond yields hit a two-month high on Thursday, as investors' concerns... London's FTSE 100 began Thursday's trade in the red, following the trend seen... The Iseq All Share opened in the red on Thursday morning and dropped 0.35 per cent... The European Union's investment vehicle is investing €40 million in a dedicated... Profits at Telegram leapt to $540 million last year, as the messaging app achieved...
Business Post
22-05-2025
- Business
- Business Post
FTSE follows Wall Street and falls on open, as BT sheds 4%
DUBLIN The Iseq All Share opened in the red on Thursday, falling 0.34 per cent (-39.24bps)... Jakob Stausholm, the chief executive of Australian mining firm Rio Tinto will step... German long-term bond yields hit a two-month high on Thursday, as investors' concerns... London's FTSE 100 began Thursday's trade in the red, following the trend seen... The Iseq All Share opened in the red on Thursday morning and dropped 0.35 per cent... The European Union's investment vehicle is investing €40 million in a dedicated... Profits at Telegram leapt to $540 million last year, as the messaging app achieved...
