Iseq outperforms directionless Europe as Ryanair, Bank of Ireland gain


Iseq outperforms directionless Europe as Ryanair, Bank of Ireland gain
  1. Iseq outperforms directionless Europe as Ryanair, Bank of Ireland gain
    irishtimes.com
    Market report: European shares gave back early gains in thin volumes on Monday, as a busy few weeks of earnings reports from top regional and US firms got…
    Business

European shares gave back early gains in thin volumes on Monday, as a busy few weeks of earnings reports from top regional and US firms got underway. However, the Iseq closed on a firmer footing, aided by gains from companies like Ryanair and Bank of Ireland.

The pan- European STOXX 600 index ended the session practically unchanged at 386.86 points, after touching a three-week high.

Last week, European indexes enjoyed their strongest week in more than two months as investors quickly bought the dip spurred by central banks turning slightly hawkish.

Second-quarter results season kicked off in the United States last Friday with numbers from Citigroup and JPMorgan.

DUBLIN

The Iseq index advanced by 0.3 per cent to 6,911.18 points.

Ryanair gained 1.3 per cent to €18.735 with analysts at Goodbody Stockbrokers highlighted potential upside to the carrier’s guidance for its financial quarter to the end of June.

Bank of Ireland was also in demand, gaining 0.4 per cent to €7.20, as Deutsche Bank concluded that the Irish lender’s pension deficit narrowed in the second quarter, boosting expectations that the group will return to paying dividends early next year.

Elsewhere among large caps, Smurfit Kappa gained 0.5 per cent to €26.70, while Irish Continental Group moved 1.4 per cent higher to €5.37.

Over in London, Irish healthcare outsourcing company UDG rose by 1.3 per cent to £8.50 after the company unveiled its second acquisition in as many weeks and fifth of its financial year-the $35 million purchase of Cambridge BioMarketing, a US communications company that specialises in launching drugs for orphan and rare diseases.

Origin Enterprises lost 1.3 per cent to €6.86 as investors continued to digest news on Friday that UK competition authorities have found the company’s deal to buy Bunn Fertilisers may reduce competition.

LONDON

The FTSE 100 gained 0.4 per cent to 7,404.13 points in London, as news that China’s economy expanded by a better-than-expected 6.9 per cent in the second quarter boosted minint stocks.

Shares in Chilean miner Antofagasta rose more than 2 per cent, while Glencore and Anglo American also advanced.

ITV surged as much as 3.8 per cent - before closing 1.3 per cent higher - after the broadcaster poached Easyjet chief executive Carolyn McCall to fill its vacant CEO position. Easyjet also advanced.

Beleaguered infrastructure giant Carillion rallied more than 19 per cent as investors cheered plans to appoint accountancy giant EY to help carry out a review of the business. The group’s shares plunged last week after it issued a profit warning.

British engineer Weir Group surged more than 8 per cent after increasing its forecasts for its oil and gas units, helped by strong North American drilling activity.

EUROPE

Germany’s Dax slipped 0.4 per cent while the Cac 40 in Paris ended the session 0.1 per cent lower.

Updates from some Nordic firms spurred sizeable moves too, with shares in Norway’s Telenor jumping more than 8 per cent. The telecoms firm raised its outlook for 2017 earnings margins after its operating results beat expec…

  1. Haulier Tony Knowles refused permission by Fenland planners for new grain store in Manea Road, Wimblington

    Cambs Times - Business
    07.20 / 13:36 cambstimes.co.uk
    Haulier Tony Knowles has been refused permission by Fenland Council to demolish outbuildings and an office in Manea Road, Wimblington, and erect a grain store of a size comparable to an existing vegetable…
  2. Blackstone raising at least $3bn in first Asia buyout fund

    Irishtimes.com - Business
    07.20 / 13:35 www.irishtimes.com
    Fund will focus on buying controlling or significant minority stakes in several…
  3. Michael Fingleton complains over short notice about Nationwide inquiry

    Irishtimes.com - Business
    07.20 / 13:35 www.irishtimes.com
    Former INBS told inquiry he would like to have attended today but the two weeks’ notice was too s…
  4. Twitter says less abuse on platform due to tougher measures

    Irishtimes.com - Business
    07.20 / 13:35 www.irishtimes.com
    Social media platform has previously been criticised for failing to deal with…
  5. Citi confirms Dublin expansion on the back of Brexit

    Irishtimes.com - Business
    07.20 / 13:35 www.irishtimes.com
    US bank will ‘increase over time our footprint in other key EU cities including Amsterdam, Dublin, Luxembourg, Madrid and P…
  6. Government housing spend up €269m in first six months of the year

    Irishtimes.com - Business
    07.20 / 13:35 www.irishtimes.com
    Review shows cost of running the country rose €1.2bn to €27.4bn in first half of 201…
  7. As SyncNorwich celebrates its fifth birthday here are five start-ups to spring up from the community

    EDP Business - News
    07.20 / 13:29 edp24.co.uk
    One of the region’s foremost tech groups celebrates five years of supporting the digital community and driving innovation this…
  8. Danske Bank raises profit forecast after beating expectations

    Irishtimes.com - Business
    07.20 / 12:18 www.irishtimes.com
    Focus on Scandinavian expansion after getting fingers burned in…
  9. Leinster star Mike Ross tackles the tech world

    Irishtimes.com - Business
    07.20 / 11:00 www.irishtimes.com
    Mike Ross is joining Dublin based technology firm Wizuda as commercial…
  10. Ulster Bank announces appointment of new chairman

    Irishtimes.com - Business
    07.20 / 11:00 www.irishtimes.com
    Des O’Shea tipped to bring ‘in-depth knowledge’ of the Irish market to the role…
  11. Colman’s Mustard maker Unilever reports strong growth after fighting off Kraft Heinz bid

    EDP Business - News
    07.20 / 10:47 edp24.co.uk
    Colman’s Mustard owner Unilever has cheered a “substantial step up in profitability” after fighting off a takeover…
  12. Brewery and Cornish Pilot Gig Association tie the knot

    Businesscornwall.co.uk - Business
    07.20 / 10:47 businesscornwall.co.uk
    A new, long-term partnership deal between St Austell Brewery’s Tribute Ale and the Cornish Pilot Gig Association CIO (CPGA) looks set to take the South West’s fastest growing sport to a whole new level as well as open the sport to brand new audiences across the UK and beyond. As part of the new 3-y…
  13. Over 100 apprenticeship vacancies this summer

    Businesscornwall.co.uk - Business
    07.20 / 10:47 businesscornwall.co.uk
    Young people and those looking for a career change are spoilt for choice as Cornwall’s top employers plan to advertise over 100 apprenticeship vacancies with Truro and Penwith College throughout summer 2017. St Austell Brewery, the Rick Stein Group, Cornwall Council, RCHT, EatDrinkSleep, Watson Marlow, Watergate Bay, and Bluefruit are just some of the o…
  14. Greencoat raises €270m in IPO backed by State fund and AIB

    Irishtimes.com - Business
    07.20 / 09:13 www.irishtimes.com
    Wind energy firm to float in Dublin and London on July…
  15. UK ‘can of course survive’ without trade deal - minister

    Irishtimes.com - Business
    07.20 / 09:13 www.irishtimes.com
    International trade secretary Liam Fox said UK government was prepared to walk…
  16. ECB to lay groundwork for autumn policy shift

    Irishtimes.com - Business
    07.20 / 09:13 www.irishtimes.com
    Mario Draghi opened the door to policy tweaks in a speech in Portugal last…
  17. Texan gas company signs deal with Port of Cork

    Irishtimes.com - Business
    07.20 / 09:13 www.irishtimes.com
    A gas import terminal could ‘substantially increase’ Ireland’s natural gas suppl…
  18. Unilever lifts margin target after first-half improvement

    Irishtimes.com - Business
    07.20 / 09:13 www.irishtimes.com
    Analysts have voiced some concern after the conglomerate said it reduced its marketing…
  19. British Gas to pay out £1.1m in compensation to thousands of customers for missed appointments

    EDP Business - News
    07.20 / 09:06 edp24.co.uk
    British Gas is to pay £1.1m to compensate thousands of customers after its agents missed…
  20. The Nottingham Building Society to move into Norwich and Peterborough Building Society premises in Thetford, Fakenham an

    EDP Business - News
    07.20 / 09:06 edp24.co.uk
    The sites of seven Norwich and Peterborough Building Society branches slated for closure are to be taken on by a rival keen to open new outlets in East…