Datalex rose 4.74 per cent on the Irish market on Wednesday on the back of an announcement of a placing at 45 cents. Financial stocks have seen a rise in the last few days coinciding with the end of the summer as normal schedules resume. It comes against a backdrop of hesitation in the stock market abroad as investors wait for Nvidia’s results due later on Wednesday.
Dublin
The Irish banks provided a mixed picture when the market closed with Permanent TSB rising 3 per cent to, AIB falling by 1 per cent to €5.34 and Bank of Ireland dropping 0.4 per cent to €10.23.
Despite a 0.16 per cent drop by Ryanair to €15.79 per share, it outperformed other airline companies. It came after a positive day for Ryaniar on Tuesday after it announced a share buyback scheme.
Datalex announced a placing on Wednesday at 45 cents which was reflected in its performance in the stock market. It rose 4.74 per cent on the day, closing at 40 cent a share. Glanbia rose 1.8 per cent to €15.90 while Kerry Group decreased marginally by 0.2 per cent to €89.25. Kingspan rose 0.4 per cent to €78.15.
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London
The UK’s main FTSE 100 stock index ended flat on Wednesday as a sharp sell-off in luxury and metal mining shares was offset by gains in aerospace-defence and pharmaceuticals.
The blue-chip FTSE 100 index was largely unchanged after rising for the fourth straight session on Tuesday, while the domestically focused mid-cap FTSE 250 was down 0.5 per cent.
Precious metal miners led declines with a 2.8 per cent slump, the sector’s biggest one-day loss in three weeks, while industrial metal miners lost 1.7 per cent as metal prices were hurt by a stronger US dollar and demand concerns from China.
Watches of Switzerland Group was off 3.5 per cent after Exane BNP Paribas downgraded their rating on the stock, while luxury retailer Burberry lost 2.2 per cent, pulling the personal goods index down by 2.4 per cent.
On the contrary, aerospace and defence shares led sector gains with a 1.5 per cent rise, while the pharma sector was up 0.8 per cent, led by 2.1 per cent gains in GSK.
Europe
It was a mostly unchanged day in Europe. Eurostoxx was up 0.30 per cent, Frankfurt’s Dax index rose 0.57 per cent, while the Cac 40 in Paris closed up 0.16 per cent.
Consumer confidence data for the euro zone is due on Thursday, as are consumer price reports from Germany and Spain. A key inflation print for the euro zone is expected on Friday, with investors watching the data for further cues on monetary policy.
The European Central Bank meets in September, and markets have priced in a 25-basis-point rate cut, though policymakers have emphasised the need for improving inflation data.
New York
Wall Street saw stocks retreat in advance of results from Nvidia, the last of the so-called Magnificent Seven megacaps to report. Just hours away from the giant chipmaker’s numbers, equities fell – with Nvidia dropping about 4 per cent.
The S&P 500 broke below 5,600. Trading volume was 30 per cent below average for the past month. The Nasdaq 100 fell 1.5 per cent. Super Micro Computer Inc sank more than 20 per cent after saying it will delay filing its annual financial disclosures.
Any disappointment in Nvidia’s results could hurt megacaps and other semiconductor stocks, which have led 2024′s rally on the prospect of artificial intelligence integration boosting corporate profits. Additional reporting – Agencies
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