Latest news with #PermanentTSB
Irish Times
2 days ago
- Business
- Irish Times
US-China tariffs truce buoys European shares
News of an extension to the tariffs truce between the US and China gave confidence to European investors and shares closed higher on Tuesday. Sectoral gains were led by energy shares but declines in heavyweight technology stocks limited advances. The European benchmark ended up 0.21 per cent to 547.89 in trading on Tuesday, DUBLIN The Iseq All-Share index ended the session up 0.75 per cent to 11,497.68, buoyed by a strong performance by AIB . The Irish bank rose 2.09 per cent to close at €7.10 in a strong day for the sector. Permanent TSB rose 0.9 per cent, reaching €2.24, while Bank of Ireland gained slightly, up 0.43 per cent to close at €12.935. READ MORE Mid-cap insurance brokers FBD Holdings rose 5.07 per cent to €14.50. It was a mixed day for the home builders. Glenveagh Properties rose 1.68 per cent, reaching €1.94, but Ires Reit was a drag on the index, falling 2.18 per cent to €0.988. Cairn Homes also fell on the day, dropping 0.68 per cent. In line with international sectoral movement, airliner Ryanair gained 1.08 per cent, reaching €26.20. LONDON The FTSE 100 made steady progress on Tuesday, boosted by a US-China trade extension and broadly as expected US inflation figures. The FTSE 100 index closed up 0.2 per cent, at 9,147.81. The FTSE 250 ended 0.2 per cent down, at 21,842.69. In individual shares, half-year results from Spirax Group were seen as 'very reassuring', following a difficult period marked by significant headwinds, analysts said on Tuesday. Shares in the Cheltenham-based industrial engineering company specialising in thermal energy management and fluid technology solutions soared 13 per cent as it reiterated full-year guidance and reported six-month results in advance of expectations. Isle of Man-based gambling firm Entain fell back 1.9 per cent after posting a £96 million pretax loss for the six months that ended on June 30th, compared with a profit of £13.7 million the year prior. Housebuilder Bellway climbed 1.6 per cent as it predicted further growth in the financial year ahead, despite 'softer' market conditions in recent months, and reported new home production in advance of guidance. EUROPE Most sectors on the benchmark STOXX 600 rose, led by energy with a 1.5 per cent advance. Vestas Wind Systems outperformed peers with a 4.7 per cent gain, after receiving US orders for undisclosed projects. Heavyweight tech shares fell 2.1 per cent to their lowest levels since early May. Software stocks in particular fell sharply on concerns that artificial intelligence could weaken this technology segment. SAP slid 7 per cent, while Nemetschek SE was down 11 per cent, the biggest decliners on the index. The stocks logged their steepest one-day declines since 2020. Sartorius rose 7.4 per cent after Jefferies upgraded the pharmaceutical equipment supplier's stock rating to 'buy' from 'hold'. Most regional indexes were higher, but Germany's DAX dipped 0.2 per cent. German investor morale fell more than expected in August, an index showed. Earnings in Europe have been resilient so far, partly because the recent EU-US tariff deal has eased concerns over how Trump's levies might affect corporate performance. Markets also eyed a Friday meeting between Donald Trump and Russian president Vladimir Putin on Russia's war in Ukraine. NEW YORK In midafternoon trading on Tuesday, Wall Street's main indexes were all advancing after losing ground in the prior session, with financials, communication services, energy, industrials and materials driving gains. US stocks have rallied in recent weeks and the tech-heavy Nasdaq touched a record high on Tuesday. The market was boosted by better-than-expected earnings from technology majors, a detente between the US and its top trade partners and on expectations of rate cuts. Among single stocks, Intel rose after Trump praised its chief executive Lip-Bu Tan following their meeting on Monday, days after seeking Tan's resignation. US-listed shares of On Holding climbed after the sportswear maker raised its annual sales forecast. Cardinal Health fell after the drug distributor said it would buy healthcare management firm Solaris for $1.9 billion. – Additional reporting, Reuters, PA.
Irish Times
29-07-2025
- Business
- Irish Times
Corporate results boost European shares
European equities edged higher on Tuesday, lifted by a slew of corporate results, while investors mulled over the new trade deal outline between Washington and Brussels. The pan-European Stoxx 600 index closed up 0.33 per cent. DUBLIN The Iseq All-Share index closed up just 0.03 per cent to 11,626.82. Bank of Ireland fell despite raising its net interest income forecast on Tuesday as investors baulked at a spike in bad loan provisions . Its shares slumped 4.54 per cent, weighing down the index and the sector. READ MORE In a mixed day for the banks, AIB led the gains, rising 1.39 per cent to €6.93 and Permanent TSB fell 0.98 per cent. Mincon, the small cap engineering tools group, performed strongly on the day, rising 2.63 per cent to €0.39 and healthcare services group Uniphar topped the index rising 3.43 per cent. Greencoat Renewables weighed down the index, falling 2.38 per cent and Kenmare Resources dropped 2.2 per cent. LONDON The FTSE 100 ticked up slightly, adding 0.6 per cent, rising to 9,136.32. Heavyweight bank stocks advanced 1.5 per cent, tracking gains in European peers. Barclays gained 2.8 per cent after the British lender's first-half profit rose by a better-than-expected 23 per cent. Bankers Standard Chartered announced that they have signed a deal to use Alibaba Cloud's technologies for the use of Artificial Intelligence financial sector. The stock gained 2.32 per cent. Pharmaceutical company, AstraZeneca beat its second-quarter profit forecasts buoyed by sales of cancer, heart and kidney disease drugs and strong demand in the US. The stock added 3.41 per cent. The company behind the Warhammer games franchise, Games Workshop surged 5.44 per cent to top the FTSE 100 index. The miniature wargames maker reported a nearly 30 per cent jump in annual pre-tax profit. Entain rose 1.04 per cent after the company's U.S. sports-betting joint venture with MGM Resorts called BetMGM raised its full-year 2025 revenue and core earnings forecast. Chemical company Croda International fell to the bottom of the index, closing down 10.38 per cent after reporting first-half sales below estimates. Sneaker and sport fashion retailer JD Sports fell 1.98 per cent EUROPE The European benchmark rose 0.33 per cent on the day. Franco-Italian eyewear group EssilorLuxottica shares jumped 6.9 per cent after the company reported an increase in first-half operating profit despite a tariff hit. Dutch company Philips rose 9.28 per cent after the healthcare technology group lowered its tariff impact estimates following the U.S.-EU trade deal. Defense stocks Rheinmetall and Hensoldt were among the winners on the day, adding 3.46 per cent and 3.12 per cent respectively Gains were cut limited by big losses including obesity drugmaker Novo Nordisk which cut its full-year sales and operating profit forecasts for the second time this year amid competition from US brands. Shares fell 23.11 per cent. NEW YORK The S&P 500 and the Nasdaq slipped from record highs in mid-afternoon trading on Tuesday as a series of downbeat earnings weighed on the indexes, while investors looked ahead to the U.S. Federal Reserve's policy meeting later in the day. Quarterly results from key Dow components UnitedHealth and Boeing failed to impress investors. Health insurer UnitedHealth fell after a disappointing profit forecast, while Boeing fell despite reporting a smaller second-quarter loss. UnitedHealth's stock has lost nearly half its value from the beginning of 2025. On the day, the healthcare index fell. Whirlpool sank after the home appliances maker slashed its annual earnings forecast and dividend, citing tariff-centric pressures. The US central bank is set to begin its two-day policy meeting later in the day. While the Fed is expected to leave rates unchanged on Wednesday, traders will closely analyze policymakers' remarks to gauge the timing of future moves. According to the CME FedWatch tool, markets are pricing in about a 61.6 per cent chance of a rate cut in September.– Additional reporting, Reuters, PA.
BBC News
15-07-2025
- Business
- BBC News
Nat West bank continues exit from Republic of Ireland
NatWest bank has taken another step towards ending its business in the Republic of Ireland by selling its 12% shareholding in Permanent TSB (PTSB).PTSB is a small Irish bank which mainly focuses on took the stake in PTSB in 2022 as part of a wider deal which saw PTSB take over some customers of NatWest's Ulster Bank month NatWest handed back the Irish banking licence which had it used to operate Ulster Bank. The move did not impact the bank's separate Ulster Bank business in Northern Ireland which continues to operate as small number of remaining Ulster Bank assets in the Republic of Ireland are now being managed by a company called Ulydien Ulster Bank branch network in the Republic was shut down in 2023 and its loan book sold to other financial followed the bank's decision in 2021 to withdraw from the Republic because its performance had not recovered from the impact of the Irish property and banking crisis.
Sunday World
01-07-2025
- Sunday World
Man and woman to stand trial accused of nine year money laundering scam
Aleksandr Volobujev and Jurgita Diliute appeared at a sitting of Mullingar District Court A man accused of laundering almost €50,000 is to stand trial next month together with a female co-accused involving two financial institutions in a midlands town. Aleksandr Volobujev (42) and Jurgita Diliute (38) both of The Jetty, Market Point, Mullingar, Westmeath, appeared at a sitting of Mullingar District Court where they were served with books of evidence. Aleksandr Volobujev and Jurgita Diliute Today's News in 90 Seconds - July 1st Volobujev was served with a book containing four charges between January 1, 2014 and November 21, 2023, three of which allegedly took place at Permanent TSB and Bank of Ireland, Oliver Plunkett Street, Mullingar. The fourth charge, meanwhile, alleged Volobujev did engage in converting, transferring, handling, acquiring, possessing or using the proceeds of criminal conduct amounting to just over €49,000 at his home address on November 21, 2023. Jurgita Diliute stands accused of two counts of money laundering. His co-accused was handed a book of evidence comprising two charges in which accounts in her name were allegedly credited at both aforementioned banks on various dates between January 1, 2014 and November 21, 2023. Sgt Sheila Kenny gave evidence of having served the pair with their respective books of evidence prior to the commencement of court proceedings. Judge Peter White was informed by Sgt Orla Keenan of the Director of Public Prosecutions (DPP) consent to send the duo forward to the next sittings of Mullingar Circuit Criminal Court. Aleksandr Volobujev is facing four money laundering charges. Judge White gave the duo what's known as the alibi warning, advising them of their obligations to notify the State of any alibi evidence they wished to rely on during the course of their trial. Defence barrister Andrea Callan, in addressing the court firstly in terms of Diliute, applied for legal aid and the assigning of a junior counsel. Judge White affirmed that request with Ms Callan indicating any similar such application for Volobujev was, for the moment, being reserved. The pair were consequently remanded on bail to appear back at a sitting of Mullingar Circuit Criminal Court on July 10.
Sunday World
18-06-2025
- Sunday World
Man accused of duping customers of over €42k for sheds that were never built
The total sums involved amount to just over €42,000 with all six charges falling under the parameters of Section 6 of the Criminal Justice (Theft and Fraud Offences) Act 2001. Trevor Fitzgerald was charged with six counts of deception in which six alleged victims were induced into paying tens of thousands of euro for sheds that never materialised. A man in his 40s is to stand trial accused of scamming a string of alleged victims into handing over tens of thousands of euro for the construction of sheds which were never built. Forty-five-year-old Trevor Fitzgerald, of Teffia Park, Longford, appeared at a sitting of Longford District Court before Judge Bernadette Owens to face six charges at various locations in Longford between December 2021 and October 2023. Three of those charges allege that on dates between December 2021 and three dates spanning January to August 2022, Fitzgerald induced a trio of individuals to carry out bank transfers for various deposits on sheds at Permanent TSB in Longford totalling over €25,000. Trevor Fitzgerald. The three remaining charges facing Fitzgerald contend how two men and a woman were allegedly defrauded out of a further €16,500 by making cash and cheque payments for further deposits on sheds which were never completed between June 2022 and May 2023. They allegedly occurred at Catrongeeragh Business Park and Fabrication Works, the latter of which is also located in the same Athlone Road based facility and at Stewarts Garage, Sligo Road, Carrick-on-Shannon, Co Roscommon. The total sums involved amount to just over €42,000 with all six charges falling under the parameters of Section 6 of the Criminal Justice (Theft and Fraud Offences) Act 2001. Trevor Fitzgerald on the steps of Longford Courthouse. News in 90 Seconds - June 18th Fitzgerald, who wore a black t-shirt and tracksuit bottoms to court, stood with his arms folded in the custody suite of the court as Sgt Enda Daly said directions from the Director of Public Prosecutions (DPP) had consented for the accused to stand trial on all six counts. He added that the State prosecutor's office were also open to Fitzgerald going forward to the Circuit Criminal Court on a signed guilty plea 'should that arise' in due course. Judge Owens was told the State would not be objecting to bail on the basis Fitzgerald abided by a series of conditions. They included orders for the accused to reside at his home address, to sign on twice a week at Longford Garda Station, to surrender his passport within 24 hours and undertake not to apply for a duplicate or any other travel documents. In a further stipulation, Fitzgerald was ordered to refrain from advertising any commercial business activity on social media. Solicitor Diarmuid Quinn applied for the release of all State evidence in connection to the case to be disclosed to the defence in an application which was approved by Judge Owens. An application for legal aid was also sanctioned after it was revealed Fitzgerald was currently out of work. Fitzgerald was remanded on bail to appear back before a sitting of Longford District Court on July 15 for the anticipated serving of a book of evidence.
