Global stocks generally moved higher on Friday as investors weighed the possibility of a Federal Reserve rate cut.
Dublin
Euronext Dublin finished the day up 1.3 per cent despite a 0.5 per cent dip in Kingspan’s shares after more than 41 million shares in the company were traded.
The Cavan-based insulation specialist announced plans in recent weeks to explore a partial flotation of 25 per cent of Advnsys on the Euronext Amsterdam in the first quarter of 2026.
Sales at Advnsys, which delivers bespoke critical infrastructure primarily focused on data centres, ventilation, and daylighting, rose 10 per cent in the first nine months of the year.
RM Block
A note from Deutsche Bank on Thursday suggested the plan coupled with “recent share price weakness” leaves an “attractive opportunity” for shareholder gains. It said its revised target price implies potential gains of about 28 per cent. “We upgrade our rating from hold to buy.”
Elsewhere, it was a good day for the banks as AIB and Bank of Ireland climbed 1.8 per cent and 1.5 per cent respectively, days after Tánaiste Simon Harris took the reins in the Department of Finance.
There was good news also for some of the index’s bigger hitters, with food giant Kerry Group up 2.4 per cent at close of business, while Ryanair climbed 1.3 per cent.
London
The FTSE 100 recovered ground, trimming earlier losses as increased expectations for Federal Reserve interest rate cuts improved global market sentiment, while investors now await next week’s UK budget announcement.
The blue-chip index, however, ended the week down 1.7 per cent, marking a steeper weekly decline than those seen in April when markets were rattled by US President Donald Trump’s sweeping tariff announcements.
The more domestically-focused mid-cap index extended its losing streak to an eighth consecutive session, dropping 0.1 per cent on Friday and recording weekly losses of 2.2 per cent.
Beverages stocks rose 2 per cent, while homebuilders’ stocks gained 3.4 per cent. On the flip side, aerospace and defence stocks fell 3.2 per cent on the day to their lowest in three months, as investors monitored developments around a new US-drafted plan to end the Russian war in Ukraine.
Precious metal miners lost 2.2 per cent even as gold prices pared losses from earlier in the session after falling more than 1 per cent, while industrial metal miners declined 1.8 per cent after copper prices sank to their lowest level in over two weeks.
Europe
European stocks fell as a risk-off mood hit some of this year’s biggest winners on concerns about lofty technology valuations and an uncertain US monetary policy outlook.
The pan-European Stoxx 600 index fell 0.44 per cent, while the Cac 40 in Paris ended flat and the Dax 40 in Frankfurt declined 0.8 per cent.
Energy and technology stocks tumbled the most, while defensive sectors including food and beverage as well as personal care outperformed. Autos were also among the biggest gainers. The defensive Swiss Market Index also rose 0.5 per cent, benefitting from demand for assets that are perceived to be safer.
Siemens Energy AG dropped 6.7 per cent even after the company announced its largest share buyback, as investors booked profits in some of this year’s strongest winners. ASML Holding NA, the biggest gainer on the index by points this year, fell 5.7 per cent.
New York
Wall Street’s main indexes gained as traders boosted bets on an interest rate cut by the Federal Reserve next month following remarks from policymakers, while technology shares steadied after a bruising selloff in the previous session.
Stocks swung rapidly between gains and losses in the previous two sessions, reflecting heightened investor anxiety over sky-high valuations in the technology sector and possibility of a rate cut next month.
Despite Friday’s gain, all three main indexes are set for a weekly drop of about 2 per cent each. – Additional reporting: Agencies
