Global markets soared on Thursday as investors digested US corporate earnings along with signs of progress in tariff negotiations between the US and its trading partners.
Dublin
Euronext Dublin was up 1.3 per cent, largely boosted by strong performances from the Irish banks.
Bank of Ireland and AIB were up 4 per cent and 3 per cent respectively, with the banking sector generally up across Europe.
Ryanair continued its recent rise, climbing 0.7 per cent. Its peer airline Wizz Air finished down 0.5 per cent after it missed first-quarter profit estimates. “There was a bit activity around the airlines due to that news flow, and Ryanair benefited from that,” said a trader.
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Elsewhere, two heavyweights on the index, food giant Kerry Group and Cavan-based insulation specialist Kingspan, both finished up 0.5 per cent.
London
Britain’s FTSE 100 rose to a record close, boosted by upbeat corporate results and optimism over a potential EU-US trade agreement.
The benchmark FTSE 100 closed up 0.9 per cent, while the domestically-oriented midcap FTSE 250 gained 0.6 per cent.
The personal care and grocery stores index led sectoral gains, up 2.6 per cent, boosted by Reckitt, up 9.9 per cent, after the consumer goods company raised its annual revenue forecast.
Healthcare stocks rose 1.9 per cent with AstraZeneca up 2.1 per cent after the drugmaker’s rare immune disorder drug succeeded in an advanced trial.
GSK added 1.4 per cent after the US Food and Drug Administration on Wednesday extended its review of the drugmaker’s blood cancer drug.
Media stocks advanced 2.3 per cent, led by ITV which rose 13.3 per cent after the broadcaster’s half-year results beat forecasts.
Conversely, precious metal miners fell 1.4 per cent, tracking a drop in gold prices. Endeavour Mining fell 1.3 per cent, and Fresnillo was down 2.1 per cent.
Europe
Shares on the Continent advanced amid reports the European Union and Washington were close to clinching a tariff agreement, close on the heels of a similar deal with Japan.
MSCI’s gauge of stocks across the globe rose 3.03 points. The pan-European Stoxx 600 index rose 0.23 per cent, while Europe’s broad FTSEurofirst 300 index rose 0.2 per cent.
The Dax 40 in Frankfurt gained 0.2 per cent, but the Cac 40 in Paris fell 0.4 per cent.
New York
The S&P 500 and the Nasdaq hit record highs as big technology stocks rose after Google parent Alphabet’s robust earnings, while the Dow was weighed down by losses in IBM, UnitedHealth, and Honeywell.
In morning trading, the S&P 500 gained 0.25 per cent; and the Nasdaq Composite gained 0.25 per cent.
Alphabet rose 1.9 per cent after it raised its 2025 capital spending forecast, shrugging off trade jitters, and reinforcing investors’ confidence in AI investments and returns.
Losses in UnitedHealth, IBM and Honeywell weighed on the blue-chip Dow, which fell 0.33 per cent – though it remained close to its December 4th record high.
UnitedHealth lost 3.7 per cent. The insurer revealed it’s co-operating with a Department of Justice probe into its Medicare practices, following reports of both criminal and civil investigations.
IBM dropped 8 per cent as its second-quarter results fell flat with investors, hampered by disappointing sales in its core software division.
Honeywell, meanwhile, dipped 4.6 per cent despite topping Wall Street’s expectations and raising its annual outlook.
Electric vehicle maker Tesla tumbled 9 per cent, as CEO Elon Musk warned of “a few rough quarters” due to cuts in EV incentives. The stock has fallen about 25 per cent for the year so far.
Some of Wall Street’s heavyweights were starting to feel the sting of Trump’s sweeping tariffs. American Airlines fell 9.2 per cent after forecasting a bigger-than-expected third-quarter loss, hurt by sluggish domestic travel demand. – Additional reporting: Agencies
