Earnings boosts from brands such as Gucci maker Kering kept European markets in the green as losses from major components reversed yesterday’s gains in Dublin.
Dublin
The Iseq All-Share index ended the session down 0.49 per cent to 11,603.88.
Kerry Group topped the Iseq after the release of its Q3 results showed volume growth and strong margin expansion. It closed up 4.73 per cent to a share price of €83.05.
RM Block
Agriculture group Origin Enterprises also had a good day, adding 3.84 per cent to reach €3.79. Permanent TSB led the way for the banks, gaining 0.87 per cent while Bank of Ireland and AIB lost ground, falling 1.05 per cent and 1.72 per cent.
A number of major Iseq components fell on the day, dragging down the index. Airliner Ryanair saw its shares fall 1.91 per cent on the day, while fellow big cap Kingspan fell 1.22 per cent to €68.75.
London
Britain’s stock market ended the day at a new high.
The blue chip FTSE 100 share index posted a new closing high after new US sanctions on Russia drove up the value of UK energy companies. This takes its gains so far this year to more than 17 per cent.
BP, up 3.7 per cent and Shell up 2.9 per cent were among the big risers, after Donald Trump announced new sanctions on Russia’s two biggest oil producers, Rosneft and Lukoil.
In another blow to Russia, European Union countries agreed a new package of sanctions against Russia for its war against Ukraine that includes a ban on Russian liquefied natural gas imports.
Pest control firm Rentokil, up 8.3 per cent, ended the day as the top riser, after cheering the City by reporting improved trading at its US pest control division.
The London Stock Exchange Group was also in demand and rose 7.1 per cent, after reporting strong growth, an investment by a consortium of banks into its Post Trade Services division and a new £1bn share buy-back programme.
The mood in the City was not shaken by the news that UK manufacturing orders have fallen at their fastest rates since July 2020, with factory bosses expecting further weakness.
An index of UK precious metal miners advanced, tracking gold prices, as U.S. sanctions against Russia and possible new export controls on China stoked geopolitical concerns, buoying demand for safe-haven assets.
Europe
The pan-European STOXX 600 index rose 0.35 per cent as European Union countries approved a 19th package of sanctions on Moscow that included a ban on Russian liquefied natural gas imports.
Gains in heavyweight energy stocks kept the index in the green after the US imposed new sanctions on Russia and strong corporate earnings, while the US-China trade frictions capped gains.
Among corporate updates, Nokia jumped 10.84 per cent after reporting third-quarter profit well ahead of expectations.
Kering’s overall group sales fell less than analysts expected in the third quarter. Shares of the French luxury group rose 8.71 per cent.
BE Semiconductor rose 4.15 per cent after the chipmaking equipment supplier posted a quarterly operating profit beat.
Dassault Systemes fell 12.98 per cent, just off the bottom of STOXX 600, after the French software company cut its full-year revenue growth guidance and published third-quarter results below consensus.
Sodexo declined 7.3 per cent after the caterer forecast slower revenue growth in 2026 than in 2025.
New York
Wall Street was unsettled in midafternoon trading on Thursday, as underwhelming earnings from Tesla and IBM, as well as simmering US-China trade tensions, kept risk appetite on a tight leash.
Tesla, which kicked off the ‘Magnificent Seven’ earnings parade, missed third-quarter profit estimates, dragging its shares down with its revenue beat offering little comfort. But even as Tesla slipped, the rest of the tech titans stepped up – with bargain hunters scooping up megacap names.
The ‘Magnificent Seven’ cohort, which makes up nearly 35 per cent of the S&P 500’s weight, saw modest gains. Nvidia, Alphabet, Amazon, Meta and Broadcom saw single digit growth.
Honeywell rose after the industrial giant raised its 2025 profit forecast despite the looming spin-off of its advanced materials unit. The gain kept the Dow afloat. But IBM weighed on the index, sliding due to a slowdown in its key cloud software segment. – Additional reporting, Reuters, Guardian.
