Banks and tech keep European shares in the green
The European Union still aims to reach a trade deal by July 9th after European Commission president Ursula von der Leyen and US President Trump had a 'good exchange' with the US trade secretary saying the US will make several trade announcements in the coming days.
Dublin
Despite the uncertainty, the Iseq All-Share index ended the session up 1.05 per cent at 11,439.60.
In a quiet session, the index outperformed its European counterparts driven by big caps Ryanair and Bank of Ireland.
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The airliner rose 2.95 per cent to €24.4 as part of a sectoral uplift which saw the industry perform well globally.
Bank of Ireland led the banks in a positive day for the sector, up 2.47 per cent to €12.425, with AIB up 1.09 per cent and Permanent TSB up 0.48 to keep the sector in the green.
Food stocks Glanbia and Kerry Group both ended the day in the red, down 1.78 and 0.76 per cent respectively as the two continued ongoing stock buyback programmes.
London
The blue-chip FTSE 100 was unchanged on the day but notched up a second weekly gain, while the domestically-focused FTSE 250 lost 0.7 per cent on Friday and ended the week lower.
The midcap index had logging its largest quarterly gain in more than four years by the close of trade on Monday, but then came under pressure as U-turns on welfare reforms blew a hole in UK chancellor Rachel Reeves' budget plans.
Home builder stocks led sectoral losses on Friday, dropping 2.1 per cent after MJ Gleeson warned of profit being at the lower end of market expectations for fiscal 2026 due to subdued demand. The group slumped 6.7 per cent and was the top decliner on the smallcap index.
Industrial metal stocks fell, tracking lower metal prices. Anglo American, Antofagasta and Glencore slipped more than 1 per cent each. Atalya lost 3 per cent.
Among individual stocks, greeting card and gifting retailer Moonpig fell 8.7 per cent to the bottom of the midcap index after a rating downgrade by Deutsche Bank.
Shares of Shell dropped 2.9 per cent after the energy big said it expects quarterly earnings to be hit by weaker trading in its integrated gas division and losses at its chemicals and products operations.
Europe
European shares ended higher on Monday, driven by gains in technology and bank stocks at the start of a week where investors are on the lookout for any trade-related headlines in the countdown toTrump's tariff deadline.
The pan-European STOXX 600 index ended 0.4 per cent higher, gaining some ground after clocking a weekly loss on Friday.
On Monday, technology stocks were among the biggest boost on the STOXX, with Germany's SAP and Dutch semiconductor equipment makers ASML climbing around 2 per cent each.
A gauge of euro zone lenders gained 1.6 per cent, with France's Société Générale jumping 2.8 per cent, hitting its highest level since 2017 earlier in the day.
Capgemini fell 5.6 per cent after the French IT services firm agreed to buy technology outsourcing company WNS for a cash payment of $3.3 billion (€2.8 billion).
New York
Following a rally to all-time highs, the S&P 500 lost steam, with a gauge of megacaps down in midafternoon trading on Monday. Tesla tumbled as Elon Musk announced he's formed a new political party, digging deeper into a pursuit that's been a drag on his most valuable business.
Elsewhere, copper and other industrial metals slid after Trump injected fresh uncertainty into his trade agenda with a pledge to impose a 10 per cent tariff on countries aligned with the Brics bloc of nations.
Oil crept higher even after the Organisation of Petroleum Exporting Countries Plus (Opec+) decided on a bigger-than-expected production increase next month, with the group's leadership showing confidence the market can absorb the extra barrels.
Shares of WNS jumped double digits following the news that French IT services firm Capgemini agreed to buy the outsourcing firm for $3.3 billion in cash. – Additional reporting, Reuters, PA.
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