Global stocks largely shrugged off the imposition of US president Donald Trump’s tariffs regime, lifted by fresh hopes of a ceasefire in Ukraine amid reports that Mr Trump will meet Russian president Vladimir Putin in the coming days.
DUBLIN
The Iseq index advanced by almost 1 per cent, led higher by bank stocks.
Traders in Dublin said the performance of the Irish economy and Wednesday’s exchequer figures boosted the main lenders. Bank of Ireland advanced by 2.7 per cent to close at €12.59 per share, while AIB added 2.1 per cent to €6.92.
Ryanair added 0.5 per cent to €25.97, slightly underperforming its peers.
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Food stocks also advanced with Glanbia recovering some of the ground lost on Wednesday, adding 1.3 per cent to close at €12.26 per share. Kerry Group closed at €80.90, up 1 per cent.
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On the eve of its half-year results release, insulation maker Kingspan’s shares jumped 1.4 per cent to €71.60.
LONDON
British stocks were mixed with the benchmark FTSE 100 index down by 0.7 per cent and the mid-cap FTSE 250 up slightly as traders weighed the Bank of England’s latest interest rate cut.
The central bank’s decision was expected, but inflation concerns among policymakers caused markets to reduce the number of rate cuts they expect in the rest of 2025.
UK defence stocks fell as part of a wider sectoral move after German defence company Rheinmetall missed quarterly results expectations, dragging down European peers.
Babcock International plunged 5.8 per cent while BAE Systems shed 5.3 per cent and Rolls-Royce dipped by more than 1 per cent.
Hikma Pharmaceuticals suffered the biggest drop on the benchmark index, falling more than 7 per cent after a strong euro prompted the group to lower its margin outlook for its injectables unit.
EUROPE
European shares advanced, led by German stocks and boosted by renewed hopes for a ceasefire between Ukraine and Russia.
The blue-chip Stoxx 50 index jumped by almost 1.4 per cent while the pan-European Stoxx 600 added 0.9 per cent.
Allianz was one of the biggest movers on the day, advancing by 4.1 per cent after the German insurer reported a 12 per cent jump in operating profits to €4.41 billion amid better results in its property-casualty insurance segment and inflows at its investment arm, Pimco.
Siemens added 3.3 per cent after reporting that revenue and orders rose in its fiscal third quarter as robust demand for the German industrial manufacturer’s rail products offset a decline at the software business.
Automakers also gained with Stellantis up by 3.5 per cent, Volkswagen ahead on the session by 2.4 per cent and Mercedes-Benz up 2.2 per cent.
NEW YORK
A rally in US stocks sputtered near all-time highs amid concerns over an overheated market.
Shortly after European markets closed, the Dow Jones Industrial Average had dipped 0.6 per cent, with the S&P 500 also marginally down and the Nasdaq Composite up by almost 0.4 per cent.
Shares in Irish building materials giant CRH were up 10 per cent by closing bell in Dublin after reporting a 2 per cent rise in profits to $1.3 billion (€1.12 billion) in the three months to the end of June.
A closely watched gauge of chipmakers jumped, but Intel Corp slipped 3 per cent as Mr Trump called on its chief to resign, citing conflicts of interest.
Eli Lilly tumbled 14 per cent after disappointing data on its new weight-loss pill.
Apple extended a two-day surge to 8 per cent. – Additional reporting: Bloomberg/Reuters
