European stocks declined, paring their biggest weekly gain in six months, after Federal Reserve chairwoman Janet Yellen underscored the persistence of labour-market slack in the US economy and as investors watched rising tensions in Ukraine.
National benchmark indexes fell in all the western European markets except Greece.
The Iseq in Dublin declined 0.1 per cent to 4,692.02. One trader described it as a "relatively quiet" day for the exchange.
DUBLIN Bank of Ireland was one of the main movers on the day, up 2.1 per cent at closing to 29.1 cent. Traders said 280 million shares changed hands on the day, and it was the most traded stock on the exchange.
It was a good day for companies directly exposed to the Irish economic recovery. Ferry operator Irish Continental Group rose 2.9 per cent to €2.80, while hotel chain Dalata was up 3.1 per cent to €2.99. Recruiter CPL gained 2.3 per cent to €6.80.
Property group Hibernia Reit was unchanged at €1.09 despite announcing that it had exchanged contracts to acquire the Forum building in Dublin's IFSC for €37.8 million. Green Reit closed down 2.3 per cent at €1.26.
Building materials group CRH was down 1.3 per cent at 17.2450 due to fears that it might be excluded from the Euro Stoxx 50 index when it is updated next month.
The five most traded stocks were Bank of Ireland, CRH, Kerry, Smurfit Kappa and Kingspan.
LONDON UK stocks were little changed, with the benchmark FTSE 100 index posting a second week of gains. Vodafone rose to a two-month high after the Daily Mail reported speculation that AT&T's advisers are working on a bid for the world's second largest mobile-phone operator.
The US telecommunications operator denied in January that it planned to bid for Vodafone, preventing it from making an offer for the following six months. That restriction no longer applies.
Henry Boot rallied 7.7 per cent after the property developer said profit this year would exceed its previous forecast.
BHP Billiton and Rio Tinto led mining shares lower.
Essentra climbed 3.1 per cent after JPMorgan Chase raised its rating on the UK maker of items from toothpaste tubes to packaging tape.
The FTSE 100 decreased 2.41 points, or less than 0.1 per cent, to 6,775.25 at the close in London. The equity benchmark still advanced 1.3 per cent this week as Ukraine and Russia held talks.
EUROPE Piraeus Bank and Banca Monte dei Paschi di Siena gained at least 2.8 per cent as a gauge of lenders advanced for a second day. CGG and Fugro lost at least 2.2 per cent as oil and gas companies retreated.
The Stoxx Europe 600 index slipped 0.2 per cent to 336.75 at the close of trading in London. The gauge earlier dropped as much as 0.7 per cent after Russian aid trucks entered Ukraine without consent from Kiev.
The Stoxx 600 rallied 2.1 per cent this week as investors bet that industrial slowdown in the euro area will increase pressure on the ECB to introduce asset purchases known as quantitative easing.
NEW YORK The Standard & Poor's 500 index fluctuated near an all-time high in early trading as investors gauged the prospects for higher interest rates after comments by Ms Yellen amid escalating tension in Ukraine.
The S&P 500 fell less than 0.1 per cent to 1,992.26 at 1:32pm in New York. The benchmark gauge is less than 10 points from the 2,000 milestone and poised for its biggest weekly gain since April.
Minutes from the Fed’s July meeting released this week reinforced the central bank’s commitment to supporting the recovery even as some policy-makers indicated a willingness to raise rates sooner than anticipated. – (Additional reporting by Bloomberg)
