Stocks fell on Monday as uncertainty over US tariffs and fears regarding the impact of artificial intelligence on company profits sparked nervousness among investors, sending most markets into reverse.
Dublin
The Irish Stock Exchange fared a little better than others, shedding about half a per cent against a more general 1 per cent, said dealers.
However, shares were generally down in Dublin as “the usual” fears over tariffs and debt-laden AI investments preyed on investors, they added.
Among leading stocks, insulation and building materials group Kingspan fell 2.33 per cent to €83.80.
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Ryanair was 0.64 per cent down at €26.58.
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Housebuilder Cairn Homes slipped 1.89 per cent to €2.335 while its rival Glenveagh Properties fell 1.35 per cent to €2.20.
Ingredients group Kerry was flat at €72.55. Food business Glanbia was 0.69 per cent off at €16.39.
Elsewhere, Bank of Ireland inched 0.72 per cent up to €16.815 while its peer, AIB, dipped 0.39 per cent to €8.865.
London
Shares of packaging and paper group Mondi fell 4.25 per cent to 887 pence sterling, while its US peers also slipped, hurt by renewed tariff concerns.
Johnson Matthey slumped 16.36 per cent to 1,927p to the bottom of the midcap index, after it agreed to slash the sale price of its catalyst technologies business to Honeywell, after the unit underperformed in fiscal 2025.
British aerospace and defence stocks pulled back after touching a record high on Friday. Rolls-Royce Holdings fell as much as 0.7 per cent despite a media report that the engine maker is expected to launch a share buyback worth as much as £1.5 billion pounds sterling (€1.7 billion) alongside its annual results this week.
The aircraft engine and luxury car maker clawed back some ground later, ending the day 0.22 per cent off at 1,333p.
Meanwhile, precious-metal miners rose 4 per cent after gold climbed to a three-week high as investors sought safe-haven assets. Glencore climbed 1.18 per cent to 513p.
Leading gold producer Endeavour Mining hit a rich seam, advancing 6.37 per cent to 5,010p. Fresnillo added 3.17 per cent to close at 3,976p.
Europe
In European equities on Monday, the CAC 40 in Paris closed down 0.2 per cent, while the DAX 40 in Frankfurt ended 1.1 per cent lower.
Losses in Frankfurt came despite figures showing the business climate in Germany improved by more than anticipated in February.
It was another bleak day for investors in Novo Nordisk as it said its obesity drug candidate CagriSema delivered up to 23 per cent weight loss over 84 weeks in a late-stage head-to-head trial, but failed to meet its primary endpoint against Eli Lilly’s Tirzepatide.
Lilly was up 4.6 per cent in New York, while Novo Nordisk slumped 16 per cent to 251.40 Danish kroner in Copenhagen.
New York
Wall Street’s main indexes dropped on Monday, led by declines in software and financials, as uncertainty around tariffs intensified after US president Donald Trump announced new levies following a supreme court ruling last week.
Financials were the biggest drags on the benchmarks, with Citigroup down 5.4 per cent, while JPMorgan Chase and Wells Fargo dropped more than 4 per cent each.
Software-related companies were also among the top decliners. The S&P 500 Software and Services index was down 3.8 per cent, extending its 23.5 per cent drop so far this year, as AI disruption fears rattled the sector.
At 5:04pm Irish time, the Dow Jones Industrial Average fell 746.58 points, or 1.50 per cent, to 48,879.39, the S&P 500 lost 72.64 points, or 1.05 per cent, to 6,836.87, and the Nasdaq Composite declined 273.80 points, or 1.20 per cent, to 22,612.27. – Additional reporting: Bloomberg/Reuters
