European stocks edged up on Thursday although traders noted that activity was “muted” as Wall Street was closed for the Thanksgiving holiday in the US.
DUBLIN
Traders said the Irish market had a quiet day, partly blaming the US Thanksgiving holiday.
Insurer FBD Holdings rose 4.17 per cent to €15. Energy investor, Greencoat Renewables added 1.72 per cent to 71 cent.
PTSB shed 1.59 per cent to €3.09. There was little activity in its rivals. AIB edged 0.86 per cent up to €8.755, Bank of Ireland rose 0.41 per cent to €15.91.
RM Block
LONDON
Gambling software specialist Playtech surged 8.58 per cent to 278.5 pence sterling despite British chancellor Rachel Reeves’ plan to boost betting tax.
Britain will increase betting duty from April 2027, exempting horse racing and wagers placed in bookie shops.
The news hit other gambling stocks. William Hill owner, Evoke, which runs several online casino businesses, was 4.09 per cent down at 29.3p ahead of the close of business. Casino owner Rank Group slid 9.3 per cent to 107p.
However, Paddy Power owner Flutter Entertainment, whose main listing is in New York, climbed 2.2 per cent 15,460p.
Banks emerged as budget winners. Lloyds Banking Group was up 3 per cent at 96.6p, NatWest gained 2.2 per cent to 632.4p and Barclays added 1.7 per cent to 429.95p.
St James’s Place, seen as a beneficiary from changes aimed at boosting contributions to stock and shares savings products, rose 2 per cent to 1,388 pence.
Centrica, owner of Irish electricity and gas supplier, Bord Gáis Energy, added 2.83 per cent to 170.7p.
Housebuilder Persimmon advanced 3.1 per cent to 1,342p.
Miner Rio Tinto slid 1.94 per cent to 5,355p on a tough day for the industry.
EUROPE
Shares in Italian lender Banca Monte dei Paschi di Siena tumbled after it announced that chief executive Luigi Lovaglio had been notified he is under investigation for alleged market manipulation and obstructing regulators in the bank’s takeover of rival Mediobanca.
Its stock fell as much as 7 per cent during trade on Thursday, but had recovered some ground by the close to trade at €8.33, more than 4.5 per cent off its opening quote.
Monte Paschi, one of the world’s oldest banks, completed the €17 billion acquisition of Mediobanca in September, creating Italy’s third-largest lender by assets in a deal backed by the Italian government under Prime Minister Giorgia Meloni.
News agency Bloomberg reported that global equities were holding firm after four days of gains, following a recovery fuelled by bets that the Federal Reserve – the US central bank – would cut interest rates faster than previously thought.
The MSCI All Country World Index was little changed after trimming its drop for November to 0.4 per cent in the prior sessions. The gauge had been down nearly 4 per cent for the month just over a week ago. European and Asian benchmarks posted modest moves, with US markets closed for Thanksgiving. S&P 500 futures were steady.
In another sign that risk appetite is returning, Bitcoin traded above $91,000 for the first time in a week. The dollar paused a two-day retreat.
The CAC 40 in Paris closed little changed, while the DAX 40 in Frankfurt gained 0.2 per cent.
European Central Bank officials said a “broadly unchanged outlook” provided the basis for its decision to leave interest rates unchanged at its most recent meeting, despite acknowledging two-sided risks to inflation, according to minutes from October’s meeting.
US markets were closed for the Thanksgiving public holiday.
