Global shares little changed after UK market rout
Dublin
The Iseq index moved 0.2 per cent higher, led by Ryanair and the main Irish banks.
The airline jumped 0.7 per cent to €23.99 per share after reporting a 3 per cent rise in passenger numbers for June. On a rolling 12-month basis to the end of December, traffic rose 7 per cent compared to the previous year, reaching 202.6 million, Ryanair said.
Meanwhile, Bank of Ireland and AIB added 0.7 per cent each to close at €11.97 per share and €6.83 respectively.
Kingspan also advanced, adding 0.8 per cent to €72.20.
Moving in the opposite direction, Glanbia gave up some of its recent momentum, slipping 0.4 per cent to close at €12.77 per share. Kerry Group also slid by 0.9 per cent to €93.45.
London
UK stocks lagged their European counterparts, while gilts and the British pound sold off after Keir Starmer initially declined to back his tearful chancellor at prime minister's questions in Westminster.
The benchmark FTSE 100 slid by just over 0.1 per cent while the FTSE 250 dropped 1.3 per cent.
Oil and gas companies gain in line with rising commodities prices with Shell jumping more than 1.6 per cent and BP advancing by more than 3.1 per cent.
The mid-cap index was led lower by Bytes Technology Group after the software company issued a profit warning. Greggs also plunged after it said its full-year profit may be lower than last year as high temperatures in June discouraged people from eating out.
Spectris Plc jumped as much as 5.3 per cent after KKR offered to buy the British company at £40 per share.
Europe
Fuelled by a flurry of deals, European stocks rose in the early part of the session but turned lower after the US jobs data release.
The Stoxx 600 index closed marginally higher, while the blue-chip Stoxx 50 finished up more than 0.7 per cent.
Banco Sabadell rose as much as 5.5 per cent after Banco Santander agreed to buy its TSB business for €3 billion.
Banks advanced across the board, with Dutch lender ING up 1.7 per cent, France's BNP Paribas up 1.9 per cent, and Sabadell's domestic Spanish rival Santander ahead by more than 2 per cent.
Elsewhere, shares in Hellenic Exchanges surged close to 15 per cent, the most since 2020, as Euronext announced it was in talks to buy the Athens stock market operator
New York
US stocks were flat, erasing pre-market losses after a report showing an unexpected decline in employment raised concerns of slowing economic growth in advance of a more widely followed gauge of labour due Thursday.
The S&P 500 rose 0.3 per cent after US president Donald Trump announced a trade deal with Vietnam with furniture stocks and apparel makers recording gains. Nike and Lululemon also jumped to hit session highs.
Among single-stock movers, Tesla shares rose 2.80 per cent as the company saw its first increase in vehicle deliveries from its Shanghai factory this year.
Centene tumbled 35.85 per cent after the health insurer pulled its 2025 guidance, citing insurance market trends that veered from its assumptions and threaten $1.8 billion in revenue.
Apple shares ticked higher 2.10 per cent after Jefferies raised its recommendation on the tech giant to hold from underperform.
Elsewhere, stocks of some of Wall Street's largest lenders including JPMorgan Chase, Goldman Sachs, and Bank of America rose after banks boosted their dividends. – Additional reporting: Bloomberg, Reuters
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Irish Times
43 minutes ago
- Irish Times
Starmer backs ‘excellent' Rachel Reeves after chancellor's tears in House of Commons
Britain's prime minister Keir Starmer said he did not appreciate how upset Rachel Reeves was in the House of Commons, because he was focused on answering prime minister's questions (PMQs). The prime minister said all people could be caught 'off guard' by their emotions, but the chancellor had to deal with it while on camera in parliament. He said she was doing an excellent job, would remain in place beyond the next general election, and that they were both absolutely committed to the chancellor's 'fiscal rules' to maintain discipline over the public finances. UK Government bonds rallied and the pound steadied on Thursday, after reassurances from the prime minister about the chancellor's future. READ MORE The sight of Ms Reeves in tears on Wednesday, and the £5 billion black hole in her public spending plans as a result of the welfare U-turn, had spooked the markets, triggering a sharp sell-off of bonds, with the yield seeing the sharpest increase since US president Donald Trump's tariff plans shook up financial markets in April. Mr Starmer told Virgin Radio he had spoken to the chancellor on Wednesday evening and she was 'fine', and her tears were as a result of a 'purely personal' matter rather than the 'ups and downs of this week'. Ms Reeves was visibly upset as she sat beside Mr Starmer in the Commons on Wednesday, but he said: 'I actually personally didn't appreciate it was happening in the chamber, because I came in, I've got questions being fired at me in PMQs, so I'm constantly up at the despatch box and down. 'I think we just need to be clear, it's a personal matter, and I'm not going to breach Rachel's privacy by going into what's a personal matter for her.' He said that 'in politics, you're on show the whole time, there's no hiding place'. Ms Reeves was a 'great colleague, she's a friend of mine and I'll be working with her for a very long time to come'. 'But like all human beings, we're also personal. 'There are moments that catch us off guard and if you're in front of a camera for large periods of your life, unfortunately, that could be caught on camera in a way, if it had been anybody else at work, it would have not really been noticed.' The sight of the Chancellor in tears on the front bench and Mr Starmer's initial lack of public support for her caused jitters about the government's borrowing plans, as Ms Reeves's commitment to her rules to control spending are a key reassuring factor for the bond markets. Mr Starmer said: 'She is an excellent chancellor, she will be chancellor for a very long time to come, into the next election and beyond it. 'She and I are absolutely committed to our fiscal rules and the economic stability that is so important to this country, and that is the rock on which we build everything else. 'On that issue, Rachel and I are in lockstep, and have been for years.' – PA
Irish Daily Mirror
2 hours ago
- Irish Daily Mirror
Irish trips among those affected as Ryanair cancels over 170 flights
More than 30,000 passengers have had their travel plans disrupted after low-cost airline Ryanair said it was forced to cancel more than 170 flights because of French air traffic control strikes. The Irish carrier said the cancellations on Thursday and Friday will affect flights to and from France, and also flights over the country to destinations such as the UK, Greece, Spain and Ireland. Ryanair passengers can check the status of their flight on the Ryanair website. Ryanair chief executive Michael O'Leary renewed calls on EU Commission President Ursula von der Leyen to take 'urgent action' to reform European Union air traffic control (ATC) services in light of the disruption, which comes at the start of the European summer holidays. Mr O'Leary said: 'Once again, European families are held to ransom by French air traffic controllers going on strike. 'It is not acceptable that overflights over French airspace en route to their destination are being cancelled/delayed as a result of yet another French ATC strike. 'It makes no sense and is abundantly unfair on EU passengers and families going on holidays.' Ryanair has long-campaigned for an overhaul of ATC services across Europe. It wants the EU to ensure ATC services are fully staffed for the first wave of daily departures, as well as to protect overflights during national ATC strikes. 'These two splendid reforms would eliminate 90 per cent of all ATC delays and cancellations, and protect EU passengers from these repeated and avoidable ATC disruptions due to yet another French ATC strike,' Mr O'Leary added. Ryanair also said on Wednesday it had been hit by the recent conflict in the Middle East, and it cancelled more than 800 flights last month. It is among those to have cancelled and rerouted flights amid the conflict between Israel and Iran, as well as continued attacks in Gaza. Last week, flights were halted at Dubai airport in the United Arab Emirates (UAE) as passengers were told to expect further delays and cancellations. Ryanair said it still operated more than 109,000 flights in June, indicating that fewer than 1 per cent of flights were affected. The business carried 19.9 million passengers in June, representing a 3 per cent increase on the same month last year. The Irish Mirror's Crime Writers Michael O'Toole and Paul Healy are writing a new weekly newsletter called Crime Ireland. Click here to sign up and get it delivered to your inbox every week
Irish Times
2 hours ago
- Irish Times
Travel chaos for thousands as French strike forces Ryanair to cancel 170 flights
Ryanair has cancelled 170 flights, disrupting travel for more than 30,000 passengers due to a nationwide strike by French air traffic controllers. The action, which begins on Thursday and is expected to continue on Friday, comes at the beginning of the European summer holidays, one of the busiest travel periods of the year. The French civil aviation agency DGAC on Wednesday asked multiple carriers to reduce flights at Paris airports by 40 per cent on July 4th due to the planned strike. It will not only affect flights bound for destinations in France, but also those passing through French airspace, such as routes from the UK to Greece, and Spain to Ireland. READ MORE 'This is due to France's continued failure to protect overflights during national ATC (air traffic controllers) strikes,' Ryanair said in a statement. 'European Union skies cannot be repeatedly closed just because French air traffic controllers are going on recreational strikes.' [ Customer numbers at Ryanair up 3% in June Opens in new window ] The airline has called on European Commission president Ursula von der Leyen to reform European Union (EU) air traffic control services 'Once again European families are held to ransom by French air traffic controllers going on strike,' Ryanair Holdings chief executive Michael O'Leary said. 'It is not acceptable that overflights over French airspace en route to their destination are being cancelled/delayed as a result of yet another French ATC strike. It makes no sense and is abundantly unfair on EU passengers and families going on holidays.' The airline has called on Ms von der Leyen to ensure that ATC services are fully staffed for the first wave of daily departures, and protect overflights during national ATC strikes, saying this would eliminate 90 per cent of all ATC delays and cancellations. – Additional reporting: Reuters
