Markets rose on Friday following signs of an easing in the trade war sparked by US president Donald Trump’s tariff announcement a month ago.
New York’s S&P 500 is heading for its longest winning streak in over two decades.
DUBLIN
Ryanair holdings advanced 5.68 per cent to €21.96 as most European airlines found favour with investors.
Insulation and building materials specialist Kingspan added 2.09 per cent to close at €75.85.
Food group Glanbia, whose shares have been under pressure since an activist investor called for a shake-up, gained 2.02 per cent to €11.63.
LONDON
Aer Lingus and British Airways owner International Consolidated Airlines Group (IAG) climbed 5 per cent to 279 pence sterling on Friday.
Low-cost flyer and Ryanair rival EasyJet added 1.83 per cent to 524p. Wizz Air inched 0.5 per cent up to 1,727p.
The FTSE 100 rose 1.2 per cent, also climbing above levels last seen before Mr Trump’s tariff announcement that rattled global markets in early April.
Bolstered by optimism that major US trading partners will negotiate trade deals, and a solid-so-far first quarter earnings season, albeit with underlying caution, the blue-chip index remains just 3 per cent below its record closing high touched on March 3rd this year.
On the day, Shell gained 2.05 per cent to 2,486p after the oil major beat analyst expectations for first-quarter net profit and maintained its share buyback programme despite falling oil prices and lower refining margins than last year.
NatWest rose 1.3 per cent to 482p after the bank reported a forecast-beating 36 per cent rise in first-quarter profit, thanks to healthier margins on deposits and higher loan balances.
Standard Chartered reported a 10 per cent profit rise, though it joined rival HSBC in warning that higher tariffs would weigh on credit quality. The bank’s shares ended flat.
Supermarket chain Sainsbury was down 1.7 per cent at 263.4p. Whitbread was 1.4 per cent off at 2,704p.
EUROPE
European stocks advanced for a ninth straight session and were close to recovering all the declines sparked by US president Donald Trump’s tariff announcements.
The Stoxx Europe 600 Index rallied 1.7 per cent to 536.43 points by the close. The index had closed at 536.92 on April 2nd, the day Trump unveiled the steepest levies in a century. He has since paused some duties, and investors are betting the US would negotiate on trade with key partners.
Friday’s advance marked the Stoxx 600’s best winning streak in a year, with gains accelerating after US jobs data showed a cooling yet resilient American labour market. The benchmark is now about 5 per cent below its March record high.
In earnings news, ING Groep NV jumped 7.4 per cent after the bank beat estimates and announced a fresh stock buyback.
NEW YORK
US stock indexes rose on Friday, putting the S&P 500 on track for its longest winning streak in over 20 years, as upbeat payrolls data and signs of easing US-China trade tensions soothed concerns around tariff-driven risks to the economy.
The Labor Department’s closely watched employment report showed nonfarm payrolls increased by 177,000 in April, exceeding expectations, and the unemployment rate held steady at 4.2 per cent.
Friday’s numbers also helped ease fears that the US economy was close to recession after gross domestic product contracted in the first quarter due to a tariff-induced flood of imports.
In another positive for markets, Beijing said on Friday it was “evaluating” an offer from Washington to hold talks over Mr Trump’s 145 per cent tariffs on China.
At 11:27am New York time, the Dow Jones Industrial Average rose 353.32 points, or 0.87 per cent to 41,106.28. The S&P 500 gained 61.10 points, or 1.07 per cent to 5,665.24 and the Nasdaq Composite gained 219.97 points, or 1.24 per cent, to 17,930.71.
Apple fell 3.9 per cent after the iPhone maker trimmed its share buyback program by $10 billion and chief executive Tim Cook told analysts that tariffs could add about $900 million in costs this quarter.
Video game maker Take-Two Interactive fell 6.5 per cent after it delayed the release of Grand Theft Auto VI to May 2026. – Additional reporting: Bloomberg, Rueters
