European shares ended in the red on Thursday, as investors weigh up US economic data following the end of the nation’s longest government shutdown, and big companies reported underwhelming earnings.
Dublin
The Iseq All-Share index ended the session marginally lower, falling 0.25 per cent to 12,534.60.
Agriculture group Origin Enterprises gained the most on the day, adding 1.89 per cent, followed by Irish Ferries brand owner Irish Continental Group which gained 1.03 per cent.
RM Block
In a mixed day for the banks, Bank of Ireland added 0.7 per cent while AIB dropped 0.34 per cent and Permanent TSB shedded 1.25 per cent.
Glenveagh Properties dropped 2.54 per cent alongside insulation specialists Kingspan, which fell 2.51 per cent to weigh down the index.
London
London’s FTSE 100 closed lower on Thursday after a three-day run of record highs, weighed down by financial shares as investors assessed disappointing third-quarter economic growth data.
The blue-chip index ended 1 per cent down, marking its worst performance since April 9, when global markets were rattled by US President Donald Trump’s tariff announcements. The mid-cap FTSE 250 also dipped 0.6 per cent.
The investment banks & brokerages sub index extended declines from the morning and fell 7.8 per cent.
3i Group slumped 17.4 per cent in its worst day on record after the investment firm expressed caution about deploying capital, saying that the transaction market and broader environment will likely remain challenging.
Life insurers fell 2.4 per cent, as Aviva dropped nearly 6.2 per cent after the insurer’s new financial targets failed to impress investors.
Rolls-Royce dropped 2.8 per cent, even as the aero-engineering firm said it was confident on its full-year forecasts despite supply chain disruption.
Burberry shares reversed course to end 2 per cent lower after hitting their highest since July 29 on the news that the luxury brand had posted its first quarter of growth in two years.
Europe
The European benchmark ended down 0.6 per cent at 580.67 points. It had logged an intraday record high earlier in the day.
European industrial stocks lost 1.8 per cent with Siemens falling 9.4 per cent as a hike in its medium-term sales growth forecast failed to allay investors amid profit-taking and disappointment about next year’s profit outlook. It unveiled plans to reduce its stake in Siemens Healthineers.
The financial services sector declined 2.3 per cent. Investment company 3i Group fell 17.4 per cent, logging its worst day ever, after it said it was cautious in deploying capital into new investment.
Italian asset manager Azimut slumped 10.1 per cent after saying that a Bank of Italy inspection had found “significant governance and organisational shortcomings” at one of its units.
Danish pharmaceuticals firm Alk-Abello jumped 11.5 per cent after the allergy specialist hiked its annual forecast.
German healthcare company Merck rose 4.9 per cent after reporting a slight gain in third-quarter operating earnings that beat market expectations.
Renk rose 7.2 per cent. The tank gearbox maker confirmed its full-year revenue and profit forecasts.
New York
Wall Street’s main indexes were down in midafternoon trading on Thursday with investors cautious in advance of indications on the US economy and the monetary policy path after US President Donald Trump signed a bill ending the longest Government shutdown in the country’s history.
Information technology stocks and communication services were the biggest drags on the S&P 500. Heavyweights Nvidia and Alphabet fell and the Magnificent Seven ETF slid as a result.
However, Cisco Systems rose after the company raised full-year profit and revenue forecasts, betting on demand for its networking equipment.
Technology and AI names have come under pressure lately, with the Nasdaq set for its third straight session of declines, as investors rotated out of pricey tech stocks into traditionally defensive areas such as healthcare.
Walt Disney fell after the media giant signalled it was grinding for a potentially prolonged fight with YouTube TV over distribution of its cable channels.
APA Corp gained after a report said Spain’s Repsol is considering a reverse merger of its upstream unit with potential partners, including the energy producer.
Memory device makers western Digital and SanDisk dropped respectively, each after half-yearly results from Japan’s Kioxia Holdings. – Additional reporting, Reuters.
