European shares closed boosted by clothing brands higher amid turmoil in French politics. The pan-European Stoxx 600 index rose 0.28 per cent
DUBLIN
The Iseq All-Share index outperformed its regional counterparts to end the session up 0.85 per cent to 11,402.95.
Soon to be delisted Datalex, the Dublin-listed retail software provider to airlines, added 5.63 per cent, while insulation and building materials specialist, Kingspan Group, added 2.59 per cent.
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The index was aided by a strong performance by bankers AIB and Bank of Ireland. AIB added 2.03 per cent to its share price, reaching €7.29, while Bank of Ireland closed at €13.11 having added 1.47 per cent. Permanent TSB Group weighed down the sector, falling 0.43 per cent to close at €2.29.
Ryanair hit turbulence, falling 0.37 per cent after Goldman Sachs lowered its price target for the airliner, switching to a “neutral” rating, the equivalent of “hold”.
Healthcare services group Uniphar was up 2.54 per cent, recovered from recent losses to close at €4.04.
LONDON
The FTSE 100 closed up 0.14 per cent to 9,221.44, while the mid-cap FTSE 250 ended up 0.5 per cent.
On the FTSE 100, Marks & Spencer rose 2.9 per cent as Citi upgraded it to ‘buy’ from ‘neutral’. The broker said the retailer is gaining share with younger customers in fashion, and seeing a larger mix of ‘bigger baskets’ in food.
Entain rose 1.2 per cent, amid reports that it is looking to sell its Australian venues business, comprising market-leading pub poker provider Australian Poker League and a booming trivia arm.
The Australian Financial Review said the gambling operator, which owns Ladbrokes and Coral, has issued preliminary sales documents to private equity firms with the goal of offloading a business it views as non-core.
Babcock International Group climbed 1.7 per cent, after a well-received investor presentation on Friday. London-based retirement savings firm, Phoenix Group fell 7.6 per cent, after mixed first-half results.
Meanwhile, ingredients maker Treatt Group leapt 18 per cent, after accepting a £156.6 million offer from Natara Global Ltd. FTSE 100 index heavyweights BP rose 0.7 per cent and Shell firmed 0.4 per cent as the oil price climbed.
EUROPE
The European benchmark gained 0.52 per cent despite political tensions which lifted defence stocks.
Rising geopolitical tensions often lead investors to anticipate higher military spending or new contracts, boosting defence contractors and arms manufacturers, with Rheinmetall rising 1.5 per cent.
In Europe, the CAC 40 in Paris ended up 0.78 per cent to 7,734.4, before a no-confidence vote which is set to see France’s Prime Minister Francois Bayrou step down.
On the data front, German exports unexpectedly fell in July on a sharp decline in US demand due to tariffs, while industrial output climbed. Nonetheless, the DAX in Frankfurt closed 0.89 per cent higher.
Danish pharmaceutical company Novo Nordisk fell 0.87 per cent amid wider healthcare stock dips as the U.S. Food and Drug Administration said it is tightening oversight of imports of obesity drug ingredients, citing concerns that many of the items may be adulterated and pose a safety risk.
British luxury fashion house Burberry gained 3.67 per cent after HSBC restated its ‘buy’ rating. Sports retailer Adidas gained 3.61 per cent after a ratings boost from Jeffries.
Shares of Phoenix Group fell 7.61 per cent after the British insurer reported half-year results and said it would rebrand as “Standard Life Plc” in March 2026.
NEW YORK
Wall Street’s main indexes were up in midafternoon trading on Monday on expectations that the Federal Reserve could lower borrowing costs soon, while gains in chip major Broadcom pushed the Nasdaq to an intraday record high.
Meanwhile, chip designer Broadcom made further gains on top of a rise from Friday. The stock was on track to register its tenth session of gains in eleven.
Among other stocks, retail trading platform Robinhood Markets and marketing platform AppLovin both made double digit gains after news there were set to join the S&P 500, effective September 22.
EchoStar shares soared after the telecommunications services firm agreed to sell wireless spectrum licenses to SpaceX for its Starlink satellite network for about $17 billion.
Other telecommunications companies fell, with AT&T, Verizon and T-Mobile slipping. – Additional reporting, Reuters, PA.
