World stocks rose on Wednesday after renewed enthusiasm for technology shares pushed Wall Street to record highs and the US indicated progress on opening the Strait of Hormuz.
Investors also monitored the fallout from Elon Musk’s SpaceX first quarterly results, which were published on Tuesday.
SpaceX surpassed analysts’ expectations in the debut earnings but the market reacted negatively to Musk’s comments on plans for blockbuster spending on AI.
Dublin
The Iseq All-Share Index rose 1.6 per cent to close at 14,016.28 on Wednesday.
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Bank stocks rebounded following losses on Tuesday, with AIB shares up 3.7 per cent to €10.78 and Bank of Ireland closing at €18.85, up 2.4 per cent.
Agriservices group Origin Enterprises was also among the main risers of the day, with its share price climbing 3.6 per cent to €4.35.
Shares in Ryanair rose 0.95 per cent to close at €25.46 on the back of strong passenger data.
Following market close, Irish Continental Group (ICG) published a formal scheme for Bluefin BidCo’s planned acquisition of the ferry firm.
It said the deal, which would involve €8 cash for each share that would value ICG at approximately €1.2 billion, is expected to be completed in the fourth quarter of this year. Shareholder meetings on the takeover are due to take place later this month.
On Wednesday, shares in ICG remained steady at €7.94, up 0.25 per cent since the previous close.
London
London’s FTSE 100 edged higher on Wednesday, after strong earnings from Glencore and retailer Next, to close at 10,888.30, up 0.08 per cent.
Shares in Glencore rose 3.8 per cent after the Swiss miner beat forecasts with an 86 per cent leap in first-half earnings, driven by its commodity trading business as conflict in the Middle East fuelled market volatility.
HSBC shares fell nearly 4.67 per cent a day after its results as investors digested analysts’ reaction to the figures.
Clothing retailer Next was among the top gainers in the day with shares up 5.7 per cent after it lifted its annual profit outlook for the third time this year.
AstraZeneca initially rallied with the share price rising 2.9 per cent on reports that there were no active discussions with Bristol Myers Squibb over a potential merger deal, but it closed down 0.8 per cent.
Europe
European shares inched up as investors reacted to comments from US president Donald Trump that signalled his administration had “very good discussions” with Iran during all-day negotiations.
The pan-European STOXX 600 index was up 0.4 per cent to 657.14 points at close.
Drugmaker Novo Nordisk reported disappointing sales of its Wegovy weight-loss pill, which overshadowed a strong second-quarter earnings. Shares were down 4.3 per cent in the day.
Heineken shares rose 2.2 per cent after the Dutch brewing giant beat first-half profit forecasts after cutting about 3,000 jobs.
New York
The S&P 500 and the Dow traded at all-time highs on Wednesday on hopes of a Middle East peace breakthrough.
In early trading, the Dow Jones Industrial Average was up 0.8 per cent, the S&P 500 index was 0.1 per cent higher, and the Nasdaq Composite declined 0.35 per cent.
Oil steadied on hopes for a reopening of the Strait of Hormuz, with US oil hovering near $75 (€64.96) as Iran said it has agreed on a Hormuz shipping route with Oman, a potential step toward a reopening of the critical waterway for energy supplies.
Walt Disney’s profit beat Wall Street estimates, driven by soaring income from its entertainment division and the resilience of its theme parks in California and Florida.
Eli Lilly boosted its 2026 sales guidance after its weight-loss drug franchise performed far better than expected in the second quarter, helping to counter investor concerns that the obesity drug boom is starting to slow.
Meanwhile transport and delivery company Uber issued a bookings outlook that just met analyst estimates, compounding concerns from investors about the company’s ability to evolve in the robotaxi era. – Additional reporting by Reuters and Bloomberg
