US equities reversed earlier gains on Thursday as a slump in the technology sector offset gains elsewhere, even as investors and strategists saw signs of stabilisation in the US labour market.
Dublin
Euronext Dublin outperformed most of its international peers, finishing flat on what was a quiet day of trading.
Cavan-based insulation specialist Kingspan was the busiest company on the index as it finished up 1.9 per cent after more than 71 million shares were traded.
The banks continued their recent slump, with AIB and Bank of Ireland down 1.7 per cent and 1.5 per cent respectively. Meanwhile, food giant Kerry Group rose 0.8 per cent.
RM Block
Budget airline Ryanair was up 0.6 per cent at close of business following a European court decision relating to the Dublin Airport passenger cap. Minister for Transport Darragh O’Brien received Cabinet approval this week to prepare draft laws to scrap the passenger cap after breaches in 2024 and 2025.
London
Stock prices in London closed lower, falling into the red after downbeat early trade in New York, before eyes turn to a US inflation reading on Friday.
The FTSE 100 index closed down 0.7 per cent. The index spent the bulk of the day in the green, before declining as the afternoon progressed. The FTSE 250 ended down 0.5 per cent, and the Aim all-share closed down 0.5 per cent.
On the FTSE 100, Schroders was the best-performing stock, jumping 30 per cent after the fund manager agreed to an all-cash takeover by a subsidiary of Nuveen. The deal values Schroders at up to £9.9 billion (€11.4 billion), 612 pence per share.
Separately, Schroders reported 2025 results, with assets under management rising 6 per cent to £823.7 billion and statutory pre-tax profit increasing 21 per cent to £673.8 million.
[ Bitcoin’s claim to be digital gold looks increasingly thinOpens in new window ]
Admiral rose 3.4 per cent. The Cardiff-based insurer is buying commercial motor insurer Flock in a deal which values the latter’s equity at £80 million.
“This acquisition aligns with the group’s commitment to continuously evolve and futureproof its motor proposition and broaden its product offering,” Admiral said.
On Aim, Sancus Lending surged 11 per cent after increasing its existing credit facility with Pollen Street Capital to £300 million and extending its maturity to no earlier than February 11th, 2031.
TPXimpact jumped 16 per cent after announcing a £39 million, four-year contract with the UK’s Department for Environment, Food and Rural Affairs under its Digital, Data & Technology “capability as a service” model.
Europe
The outlook for European corporate health has improved, the latest LSEG I/B/E/S forecasts showed, as European blue-chip indices hit highs on the back of a better-than-anticipated earnings season so far.
European companies are expected to report a 1.1 per cent drop in 2025 fourth-quarter earnings, on average, according to LSEG data, a substantial improvement from the 3.1 per cent decrease analysts expected a week ago.
That would be still be the worst earnings performance in the past seven quarters, based on the LSEG data.
In European equities, the Cac 40 in Paris closed up 0.3 per cent, while the Dax 40 in Frankfurt closed flat. The Stoxx Europe 600 fell 0.5 per cent, while the MSCI World Index fell 0.8 per cent.
New York
US stock indexes fell on a renewed sell-off in software and technology shares, while strong labour market data tempered expectations for a central bank rate cut.
Software and brokerage stocks fell sharply, with the S&P 500 software index down 2.7 per cent, giving up almost all its gains since bouncing back from last week’s drubbing.
Atlassian and Adobe were down more than 2 per cent each. Intuit, CrowdStrike and Datadog fell between 1 per cent and 3 per cent.
The Dow Jones Transport Average lost 5.4 per cent, with CH Robinson falling 12 per cent. Old Dominion and JB Hunt Transport lost 4.3 per cent and 8.6 per cent, respectively.
All “Magnificent 7” stocks posted declines, with Apple and Amazon falling 3.7 per cent and 3 per cent respectively. (Additional reporting: Agencies)
