European shares rallied on Monday as banks recouped some of last week’s losses and Apple jumped to its first record of 2025 amid growing optimism about iPhone sales.
Dublin
The Iseq index moved 1 per cent higher on Monday as Irish banks recovered lost ground, as concerns about US regional lenders receded.
AIB moved almost 2 per cent higher to close at €7.54 per share, while Bank of Ireland finished up 1.3 per cent at €13.15 after respective declines on Friday of 3.5 per cent and 5.7 per cent.
Among the other big names, Kerry Group added momentum with a 1.4 per cent jump to €78.55 per share.
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Kingspan finished 0.9 per cent firmer at €69.45 while Ryanair edged 0.6 per cent higher to close at €26.30.
Home builders were mixed with Glenveagh up 0.4 per cent and Cairn Homes dipping 0.2 per cent to close at €1.89 per share.
Europe
European shares climbed on Monday, as initial concerns over the stability of the US banking sector eased. The blue-chip Stoxx 50 index added 1.4 per cent, as the pan-European Stoxx 600 jumped by slightly more than 1 per cent.
European banks mostly recovered from Friday’s losses, with Spain’s BBVA and Santander rising 3.8 per cent and 1.9 per cent respectively. Dutch lender ING Groep added 0.5 per cent.
BNP Paribas, meanwhile, plunged 7.6 per cent after losing a court case that analysts said could result in a costly settlement.
Among other movers, Kering jumped nearly 5 per cent after the Gucci owner agreed to sell its beauty business to L’Oreal for €4 billion.
Holcim rose 2 per cent on a €1.85 billion agreement to acquire German walling systems maker Xella.
France-based car parts supplier Forvia lost 5.8 per cent after reporting a 3.7 per cent drop in its third-quarter sales.
London
Big UK indices edged higher, led by gains in industrials and mining stocks as cooling trade tensions lifted risk appetite across the globe. The benchmark FTSE 100 rose by a little over 0.5 per cent, while the mid-cap FTSE 250 index inched ahead by 0.4 per cent.
With gold prices continuing to gain momentum, precious metal miners lifted the blue-chip index. Fresnillo jumped to the top of the index with a 2.7 per cent move, while Anglo American added 1.8 per cent and Rio Tinto moved 1.5 per cent higher.
The index of aerospace and defence stocks advanced 1.9 per cent, tracking European peers. Babcock and Rolls-Royce rose 2.5 per cent and 2.3 per cent.
Home builders, meanwhile, dragged on the FTSE 100 after a report from property website Rightmove showed the asking prices for British homes rose only 0.3 per cent in the four weeks ending October 11th, below the seasonal average
Home builder Persimmon lost 2.2 per cent and Barratt Redrow fell 0.9 per cent.
New York
Wall Street’s main indices were poised for gains as better-than-expected corporate earnings soothed anxieties over the US banking sector and Apple rallied to a new record.
The S&P 500 advanced 0.8 per cent, with all sectors in the green, while the Nasdaq 100 rose 1.1 per cent.
Earnings season shifts into high gear this week, with Wall Street heavyweights, including Tesla, Ford, GM, Netflix, Procter & Gamble, Coca-Cola, IBM and Intel, set to report. Their results will offer a fresh stress test for equities trading near lofty valuations.
Apple climbed by almost 4.4 per cent to its first record of 2025 after Loop Capital upgraded the stock to buy, the latest firm to cite more positive iPhone demand trends.
A gauge of megacaps climbed 1.3 per cent, with the likes of Amazon moving 1 per cent higher after saying its cloud service had recovered after widespread disruption.
Tesla rose 2 per cent in advance of its third-quarter report due Wednesday, the first from the Magnificent Seven cohort of big-tech companies. – Additional reporting: Bloomberg, Reuters