European shares closed lower on Friday with automakers among top decliners as investors grew skittish on worries of a global trade war escalating.
Dublin
The Irish index of shares fell on Friday, ending the week almost 1 per cent lower.
Shares in Bank of Ireland declined 1.6 per cent, closing the week at €9.69 while AIB gained half a per cent by the end of the session to close at €5.93. Permanent TSB gained 2.8 per cent.
Food groups Kerry and Glanbia also dipped, shedding 0.9 per cent and 1.6 per cent respectively. Insulation specialist Kingspan was also off the pace, losing 1.18 per cent.
Leisure stocks were mixed with Dalata Hotels Group rising 0.75 per cent to end the week in positive territory. However, Ryanair fell 1.32 per cent to close the week at €20.23.
London
UK stocks were lower on Friday, with the FTSE 100 easing from a record high, as tariff uncertainty added to investor nerves after data showed weaker-than-expected US jobs growth.
The FTSE 100 lost 0.3 per cent, while the mid-cap FTSE 250 slipped 0.8 per cent and was set to end the week marginally higher.
The FTSE 100 was set to end the week 0.6 per cent higher and closed at a record high on Thursday, lifted by upbeat corporate earnings and hopes for further rate cuts from the Bank of England after the central bank cut rates by 25 basis points.
However, highlighting the challenges faced by the UK economy, policymakers halved their 2025 economic growth outlook while flagging that inflation would be nearly double the bank’s 2 per cent target this year.
Shares of Legal & General gained 1.2 per cent after the insurer sold its US protection business to Japan’s Meiji Yasuda for $2.3 billion in cash.
Europe
The pan-European STOXX 600 index was down 0.4 per cent, with the auto sector falling by 1.6 per cent.
Porsche dropped 7.1 per cent, its biggest decline since listing on the stock market, after warning that the cost of new models and battery-related expenses would dent its 2025 profits.
L’Oreal lost 3.5 per cent after the French cosmetics group reported its slowest quarterly rise in growth since the height of the pandemic, missing expectations.
Pernod Ricard dropped 4.7 per cent. A report said the beverage maker is exploring a sale of its champagne brand G.H. Mumm.
Construction and materials was the top sectoral winner, adding 0.5 per cent, as Sweco rose 7 per cent following its fourth-quarter results.
Danske Bank added 7.8 per cent after posting record annual profits.
New York
US stocks fell on Friday after weak jobs data and the expectations of higher inflation raised the chances of a more cautious Federal Reserve, while a report stating that president Donald Trump might impose reciprocal tariffs added to worries.
A survey showed US consumer sentiment dropped unexpectedly in February to a seven-month low and inflation expectations rocketed, with households seeing inflation over the next year surging to 4.3 per cent – the highest since November 2023.
Earlier in the day, US job growth slowed more than expected in January after robust gains in the prior two months, but a 4 per cent unemployment rate probably will give the Fed cover to hold off cutting interest rates at least until June.
At 11.23am ET, the Dow Jones Industrial Average fell 203.26 points, or 0.45 per cent, to 44,545.15; the S&P 500 lost 32.16 points, or 0.53 per cent, to 6,051.41; and the Nasdaq Composite lost 183.29 points, or 0.93 per cent, to 19,608.70.
Amazon.com dipped 3.7 per cent due to weakness in the retailer’s cloud computing unit, Amazon Web Services, and lower-than-expected forecasts for first-quarter revenue and profit. – Additional reporting: Reuters
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