Earnings boost European stocks while New York frets over Trump
DUBLIN
Traders said activity on the Dublin market was 'lethargic' as the Iseq index finished the session fractionally ahead, with no news to spur investors. 'It was all a bit quieter today,' said one.
Glanbia shed 1.82 per cent to close at €9.99. Dealers said the shares were still feeling the impact of the news that activist investor Clearway Capital was demanding a strategic review of the food and nutrition business.
Insulation and building materials group Kingspan climbed 4.27 per cent to €74.50. There was nothing stock specific behind the move, dealers noted. The group reports first-quarter results at the end of the month.
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Housebuilder Glenveagh Properties added 1.85 per cent to close at €1.65.
LONDON
London's blue-chip FTSE 100 closed up almost eight points on Friday, a rise of 0.09 per cent for its tenth positive session in a row. It is the index's longest winning run since 2019, when Boris Johnson's election win sparked a relief rally.
Aircraft engine and components manufacturer Melrose Industries posted the strongest performance, adding 3.77 per cent to 429.4 pence sterling.
Ben & Jerry's ice cream and Knorr soups owner Unilever shed 2.21 per cent to 4,685p.
EUROPE
European stocks also closed higher on Friday as positive earnings reports eased trade uncertainty. The benchmark Stoxx 600 index closed around 0.3 per cent higher. Germany's Dax and France's CAC were both up on the day.
Jet engine maker Safran was up 4.16 per cent around close of business Irish time at €230.10. The group reported first-quarter revenues rose 16.7 per cent to €7.26 billion, beating market expectations.
Chief executive, Olivier Andriès noted that China would exempt some aerospace engine parts from tariffs.
Defence contractor Saab ended the day 0.16 per cent up at 426.15 Swedish kroner. But the stock traded as much as 5 per cent higher during the day after the company reported sales up 11 per cent at SKr15.8 billion.
President and chief executive, Micael Johansson, said the group was 'fully committed' to Europe's defence build-up. Investors are shifting increasingly to defence stocks as security fears grow in Europe and other regions.
Building materials giant Holcim, a rival to Irish giant, CRH, climbed 1.66 per cent to 91.90 Swiss francs. The group reported that operations earned SFr515 million profit in the first three months of the year, beating market expectations.
Chief executive Miljan Gutovic told reporters the group was 'well prepared' to navigate any tariff turmoil.
French supermarket chain Carrefour edged 0.15 per cent down to €13.75 as advisers split over its move to take Brazilian grocer Atacadao private.
Carrefour is the chain's controlling shareholder and is bidding to buy out its other investors. Some advisers argue its 8.50 Brazilian reais a share offer is not enough.
NEW YORK
A solid week on Wall Street looked to end on a softer note, with stocks churning after one of the worst-ever consumer sentiment readings added to anxiety about the repercussions of president Donald Trump's trade war.
Following a three-day rally, the S&P 500 wavered as data also showed long-term inflation expectations climbing to the highest since 1991.
A mixed bag of corporate earnings brought little relief to investors sceptical about a timely resolution of the US tariff spat with its top partners. Most equity industries dropped on Friday, though big tech gained after Alphabet's solid results.
As investors digested conflicting signals on whether the US-China trade spat is de-escalating, speculation grew that the world's two largest economies won't set aside their differences so quickly. Bonds and the dollar rose. – Additional reporting: Bloomberg
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RTÉ News
5 hours ago
- RTÉ News
'Optimism but no certainty' as Trump and von der Leyen to meet in Scotland
Tomorrow's meeting between European Commission President Ursula von der Leyen and US President Donald Trump in Scotland is being treated as a "final negotiating session". According to a senior official in the EU delegation, there is "optimism but no certainty" that a trade deal can be reached. The meeting is being treated as a "president-to-president" negotiating session. It's understood Ms von der Leyen will also be joined by the European Trade Commissioner, Maroš Šefčovič, in Turnberry. In the event that a deal is reached, it will be an agreement in principle, with a final document likely to be produced in the days afterwards. Mr Trump spent much of his day today playing golf at his Turnberry resort, ahead of high-level bilateral sessions with Ms von der Leyen tomorrow, and also British Prime Minister Keir Starmer and Scottish First Minister John Swinney on Monday. Meanwhile, protests against the visit of Mr Trump to Scotland took place this afternoon. Organised by the "Stop Trump Coalition", the demonstrations were held simultaneously in Edinburgh and Aberdeen. Those involved said that they wanted to convey the message that they did not believe Trump should be welcomed to Scotland. Tight security around the Trump Turnberry course meant no demonstrators were seen when the president took to the greens this morning. Dressed in black, with a white cap that said USA on it, Mr Trump could be seen driving a golf buggy, flanked by a fleet of security personnel, as he played on the famous course which he bought in 2014. However hundreds gathered in both Edinburgh and Aberdeen - near the site of Mr Trump's other Scottish golf resort - to make their opposition to the president known. As the visit got under way Scottish First Minister John Swinney announced public money to support a tournament at the Trump International golf links in Aberdeenshire. The 2025 Nexo Championship - previously known as the Scottish Championship - is set to take place there next month, supported by £180,000 of public funding. Mr Swinney said: "The Scottish Government recognises the importance and benefits of golf and golf events, including boosting tourism and our economy." But Scottish Green co-leader Patrick Harvie likened the awarding of public cash to the tournament to "handing some pocket money to the school bully". Mr Trump will head to his golf resort in Balmedie, Aberdeenshire later on in his five-day long private visit. As part of his trip he will also hold talks with Prime Minister Keir Starmer, where the two men will refine a trade deal between the UK and the US that was agreed earlier this year. The president is also expected to talk trade with European Commission president Ursula von der Leyen tomorrow. But with no talks apparently scheduled for today, the president, who is well known for his love of golf, was free to take to the famous course at Turnberry. A major security operation surrounded him, with police officers and military personnel seen scouring the grounds ahead of Mr Trump teeing off. After touching down in Scotland in Air Force One last night, the president was seen on the course at Turnberry this morning - although security fencing had also been erected around the resort, with road closures also in place to help protect Mr Trump, who last year survived an assassination attempt. Police Scotland has asked for support from other forces across the UK to bolster officer numbers for the high-profile visit - with Mr Swinney appealing to people to protest "peacefully and within the law". In Aberdeen, Green north east Scotland MSP Maggie Chapman told the crowd of hundreds: "We stand in solidarity not only against Trump but against everything he and his politics stand for." Speaking about the US president, Ms Chapman said: "He believes that climate change isn't real, he believes that cutting services for those in the world with the least is the right thing to do. "We say no to all of those things, not in our name, never in our name." With Mr Trump having last year been convicted by a New York jury of falsifying business records, she said the president was a "convicted felon". "He is not welcome in Scotland, he is certainly not welcome in Aberdeenshire," she said. "We know that he is a convicted felon. "We also know that all of the promises he has repeatedly made to Scotland have come to nothing, there hasn't been the development of jobs or houses that he promised when he opened his course in Aberdeenshire a few years ago." Mr Harvie was also critical of the president, saying: "He's attacking our renewables industry once again, one of the success stories of Scotland, and he is trying to attack and undermine it.
The Irish Sun
5 hours ago
- The Irish Sun
Watch moment men have competitive pillow fight on Dublin city street as fans ‘very excited' over new arena experience
COMPETITIVE pillow fighting has come to the streets of Dublin in a new arena experience. Located on 2 Competitive pillow fighting has come to Dublin city Credit: Journalist Collect 2 Players can fight their friends in an enclosed setting Credit: Journalist Collect One Irish rapper, who goes by @l.k2798 on He said: 'Pillow fighting on Dame Street. '#duckanddive' The first of its kind on the streets of Dublin, pillow fighting competitions like this have gained popularity - with similar ones found in London and READ MORE IN TRAVEL Participants can challenge friends, siblings or coworkers in an enclosed setting where the fun and banter flow just as much as the pillow swings. What's more, the arena includes a referee to oversee In the clip, the ref said: 'They are brothers! That makes perfect sense. 'It's an incredibly even contest! oh my goodness folks, you couldn't call this. Most read in News Travel 'It might have to go to vote at the end.' People have taken to the comment section to share their thoughts. 'Omg Dublin it's finally happening' screams fashion fan as Arket gets ready to open One person wrote: "Need to have most people in Dublin there to let their anger out." Another said: 'Lethal head movements.' NEW STORE COMING TO DUBLIN Meanwhile, a new Dublin store is set to open in just weeks as bosses have revealed the exact date - as fans say they're "very excited." The Founded in 2017 by the H&M Group, Arket is a curated, design-led brand that brings together clothing, interiors, accessories and Known for minimalist fashion and homeware, the company said their focus is on clean lines, timeless staples and sustainability - offering pieces that are made to last. Until now, Irish shoppers could only access the brand through its website or while And they are set to open a brand-new of flagship store at 60 Dawson Street, right on the corner of Nassau Street in Co Dublin. Set to open on July 31, it will be part of the new Grafton Place development - a new retail project in the heart of Dublin's city centre. The full Arket collection will be available in-store, including menswear, womenswear, This will also be the first Arket location in Ireland to include an on-site cafe that's led by Swedish chef Martin Berg.
Irish Examiner
6 hours ago
- Irish Examiner
Donegal and Kerry showcase football's Wild Atlantic Way
Eleven years ago, the same year both Donegal and Kerry previously contested an All-Ireland final, the Wild Atlantic Way route was launched. On a comparatively shoestring budget, Fáilte Ireland had to come up with an initiative to rebrand the splendour of the west coast in the hope of boosting a tourism industry still reeling from the economic crisis. Then chief executive Shaun Quinn went back to his homeplace in Raphoe in Donegal and conjured up the phrase. The wave-shaped acronym that became the logo followed and after that it was a case of agreeing on the route. Launched in April 2014, it was initially deemed gimmicky. The rusty stop signs were maligned as eyesores and the new road signs dismissed as the proverbial lick of paint. By the time Donegal and Kerry faced off that September, the sneering and cynicism was on the wane. Hotels in counties like Donegal were reporting bookings up by as much as 40%. Last year, it was revealed the Wild Atlantic Way has led to a 58% increase in revenue, which now totals €3 billion per annum. Not bad for giving a new name to something that was already there. Finn MacDonnell, owner of the famous Dick Mack's pub in Dingle, told this newspaper last year its creator should 'be given a trophy'. Aisling Arnold-Kelly, owner of Arnolds Hotel in Dunfanaghy reported the promotion was transformational for her business. 'We were opening on St Patrick's Day and closing after Halloween,' she told the Irish Times. 'As a result of the Wild Atlantic Way, we are now open six months full-time and five days a week in the off-season, from November to February…' A lot of what the Football Review Committee (FRC) started 10 years on from Fáilte Ireland's great marketing campaign can be likened to the Wild Atlantic Way. The product is still the product, football remains football as FRC chairman Jim Gavin had intended, but the packaging is a damn sight better. In almost every GAA field in the country, the FRC's lick of paint has amounted to two partly-elliptical arcs and a dotted halfway line. The skill of a long-range point has been flagged literally and figuratively. The quick free is quicker in the form of the solo-and-go. If the 2,500km route from Kinsale to Malin Head fuels nostalgia for ex-pats and second and third generation Irish about the old sod, the four back, three up restrictions is a nod to how the game used to be played. Like the paintings of Paul Henry and postcards of John Hinde that sold the idea of Ireland as a destination in the early half of the 20th century, there is romance to the rules. The allure of empty space as portrayed by those artists is what the FRC have advertised to footballers. Gavin may be a self-proclaimed fan of 'east coast football' but within the parameters he and his group have set, the west are this year's winners. The tropes about Donegal being too wedded to their running game because of their geography and their management's allegiance to it has been disproven by their progress under these new game conditions because they have excellent kickers. To a lesser extent, Kerry's presence in this final is notable when they seemed for a large part of the season to be slower than most to catch the hang of two-pointers, a point Jim McGuinness referenced after Donegal's All-Ireland semi-final. Both have moved with the times. The aggregate 27 points, the 2-21, the pair accumulated between themselves in the 2014 All-Ireland final could be matched or surpassed by half-time on Sunday. It's inflation but, unlike what those holidaying in Ireland are experiencing, it's the good kind. Just as the ruggedness of the west has been re-imagined, the GAA have realised that when you rebrand it, they will come. Novelty or not, attendances were up 21% for this year's group stages compared to last. Crowds for the 13 knock-out matches will exceed 430,000 and could be as much as 23% higher than 2024. That's not to say the fare from the preliminary quarter-finals has been great. It's been pretty underwhelming, in fact, after some electric group matches. The average winning margin has been 7.8 points compared to the group stages where the average gap was 5.6. Consequently, there is some pressure on Sunday's final to showcase all the good that the FRC has brought to the game before the permanency of the rules are voted on in early October, but finals are often fraught affairs and it's been six years since a stone-cold classic was delivered on this stage. But it doesn't need to be wonderful to establish that the tweaks have been a success. As those living in the Donegal and Kerry beauty spots on the Wild Atlantic Way can testify, a shower is never too far away.
