Global stock markets were muted on Thursday as investors eyed political instability in France amid hopes of peace in the Middle East.<\/p>\n
Dublin<\/b><\/p>\n
Euronext Dublin finished the day down 0.9 per cent, as it gave up some of the ground it has made in recent sessions.<\/p>\n
The food names were the standout performers on the day, as Kerry Group and Glanbia climbed 0.9 per cent and 1.1 per cent respectively.<\/p>\n
Among the financial names, Bank of Ireland gave up 1.7 per cent after it confirmed it will likely need to add to the \u00a3143 million (\u20ac167 million) previously set aside to deal with the fallout from the UK motor finance commissions scandal. AIB, meanwhile, was down 1.1 per cent.<\/p>\n
Elsewhere, budget airline Ryanair was down 1.1 per cent at close of business, while Cavan-based insulation specialist Kingspan sank 1.7 per cent.<\/p>\n
Among the housebuilders, Glenveagh Properties and Cairn Homes finished down 1 per cent and up 1 per cent respectively.<\/p>\n
London<\/b><\/p>\n
The FTSE 100 retreated from the previous session\u2019s record high, as a decline in the shares of HSBC weighed on the banking sector. The blue-chip index fell 0.4 per cent, while the mid-cap-focused FTSE 250 was up 0.05 per cent.<\/p>\n
HSBC dropped 5.4 per cent, logging its steepest one-day drop in more than six months. The bank said it plans to buy out minority interests in Hong Kong\u2019s Hang Seng Bank, where it holds a majority stake. The broader banking sector weighed heavily with a 3.7 per cent decline.<\/p>\n
Lloyds Banking Group and Merchant bank Close Brothers dropped 3.3 per cent and 12.8 per cent, respectively, after both the lenders warned they may need to set aside more cash to cover the costs related to a motor finance scandal.<\/p>\n
Aston Martin slumped 12.6 per cent and was among the top losers in the FTSE 250, after European peer Ferrari\u2019s 15.4 per cent fall on disappointment over the luxury carmaker\u2019s new long-term financial targets.<\/p>\n
The wider home builder\u2019s index shed 1.9 per cent, with Taylor Wimpey and Barratt Redrow dropping 4.6 per cent and 3.6 per cent, respectively.<\/p>\n
Secure Trust Bank shares dropped 20.2 per cent after the bank said it expects annual underlying profit before tax to fall below market expectations.<\/p>\n
Europe<\/b><\/p>\n
French bonds held on to gains from the day before on optimism the country can avoid a snap election and agree a budget, after talks between caretaker prime minister Sebastien Lecornu and other political leaders.<\/p>\n
France\u2019s 10-year bond yield was 0.2 per cent higher on the day at 3.529 per cent, after falling 5.5 basis points the day before on optimism that a deal to avoid new elections could be reached. It rose 6 basis points on Monday after Mr Lecornu\u2019s resignation. <\/p>\n
Germany\u2019s 10-year bond yield, the benchmark for the euro area, was up 3 basis points to 2.705 per cent, pushing the spread between France and Germany\u2019s 10-year yields to 82.2 basis points, down from nearly 88 basis points on Monday.<\/p>\n
Meanwhile, the Stoxx Europe 600 fell 0.3 per cent, while the Cac 40 in Paris closed down 0.2 per cent and the Dax 40 in Frankfurt ended up 0.1 per cent. Shares in Italian car maker Ferrari plunged 14 per cent after its aims for 2030 fell short of loftier forecasts.<\/p>\n
New York<\/b><\/p>\n
Stocks in New York were lower at the time of the Dublin close. The Dow Jones Industrial Average, the S&P 500 index and the Nasdaq Composite all traded down 0.3 per cent.<\/p>\n
However, Israel and Hamas signing off on the first phase of a proposed Gaza peace deal could help remove a long-term overhang on risk assets.<\/p>\n
Delta Air Lines shares jumped 8.2 per cent. The airline provided an upbeat forecast for the current quarter, after posting stronger-than-expected third-quarter earnings.<\/p>\n
Other US carriers also gained. United Airlines rose 5.5 per cent, while American Airlines and JetBlue Airways advanced 4.9 per cent and 3.4 per cent, respectively. \u2013 Additional reporting: Agencies<\/p>\n","protected":false},"excerpt":{"rendered":"Global stock markets were muted on Thursday as investors eyed political instability in France amid hopes of peace…\n","protected":false},"author":2,"featured_media":111610,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[175],"tags":[625,79,18,181,19,17,13190,188,623],"class_list":{"0":"post-111609","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-markets","8":"tag-bank-of-ireland","9":"tag-business","10":"tag-eire","11":"tag-glanbia","12":"tag-ie","13":"tag-ireland","14":"tag-kerry-group","15":"tag-markets","16":"tag-ryanair"},"share_on_mastodon":{"url":"","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/posts\/111609","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/comments?post=111609"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/posts\/111609\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/media\/111610"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/media?parent=111609"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/categories?post=111609"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/tags?post=111609"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}