Global stocks either side of the Atlantic broadly rebounded on Wednesday, as strong results from the mining sector dragged markets just over the green line. Closer to home, poor showings from the banking sectors made it a task too tall for other industries to improve the closing outlook.
DUBLIN
The Iseq Overall index fell 0.78 per cent on Wednesday, to close at 13,976.27.
Bank of Ireland saw its share price fall 3.35 per cent to close at €18.58, while AIB trailed behind in dropping 2.25 per cent to close at €10.62. Permanent TSB which is set to be taken over by Austria’s Bawag, was little changed at €2.93.
Building materials manufacturer Kingspan saw its stock rise 2.88 per cent to close at €101.90, while nutrition company Kerry Group rose 0.43 per cent to close at €81.95 a share.
RM Block
Irish Continental Group, which operates Irish Ferries, saw its share price drop 0.32 per cent to close at €7.26 the day The Irish Times reported that, while its revenue increased by 16 per cent in the first six months of 2026, its pretax profits fell 2.9 per cent.
LONDON
The London stock market rebounded on Wednesday following poor showings the day before in the mining sector that could not be offset by stronger results in the technology industry. The blue-chip FTSE 100 index increased 0.14 per cent, while the mid-cap FTSE 250 rose 0.33 per cent.
The banking sector listed on the FTSE 100 took a tumble, as Lloyds Bank’s share price fell 2.13 per cent, with Barclays following suit, dropping 1.49 per cent at close of markets. Telecommunications company Vodafone also ended the trading day in the red, with its stock decreasing 0.29 per cent.
Oil and gas giant BP saw more positive results, as its share price increased 1.09 per cent and mining companies Glencore and Endeavour witnessed their stock soar on Wednesday, by 5.24 per cent and 7.49 per cent, respectively.
Meanwhile on the more domestically-minded FTSE 250, fellow mining company Hochschild rose 7.99 per cent by close.
Ireland-founded but now UK-based Tullow Oil saw strong returns, with its share price rising 7.62 per cent, while UK mining company Fresnillo climbed 7.83 per cent.
EUROPE
Elsewhere in Europe, shares slumped slightly across the Continent, with the pan-European Stoxx 600 index dipping 0.11 per cent to close and the blue-chip Stoxx 50 index dropping 0.39 by the end of trading hours.
On the latter, German car manufacturer Volkswagen was among the day’s biggest gainers, as its share price rose 2.54 per cent, pipped 0.01 per cent to the top position by Amsterdam-based consumer internet group Prosus.
French cosmetics and skincare brand L’Oréal saw its stock increase 1.90 per cent, although its banking and financial services mogul compatriot BNP Paribas decreased 2.39 per cent, in part due to broader sectoral issues as well as rising euro-zone bond yields. Spanish bank Santander also dropped, by 1.24 per cent.
NEW YORK
Similarly to shares sold in the British capital, early trading on Wall Street also saw a comeback on Wednesday morning prompted by a welcomed intervention from the US Treasury Department, following near two-week lows the day before amid inflation angst and tumbling chipmaker stocks.
The Treasury said it plans to boost buy-backs of 30 and 20-year bonds, a signal showing the US wants to lower borrowing costs after yields hit multi-decade highs.
But oil continued to fluctuate as traders weighed renewed tensions in the Middle East that further clouded the outlook for future trade flowing through the Strait of Hormuz.
Before midday in New York, the Dow Jones Industrial Average was up some 0.30 per cent, S&P 500 index by around 0.40 per cent, and the Nasdaq Composite by 0.35 per cent. – Additional reporting: Bloomberg.
