Irish shares rose on Tuesday, as stocks around the world appeared to rebound after Monday’s global slump.
Dublin
Euronext Dublin rose 0.6 per cent but the market was rather muted with trading volumes down about 25 per cent.
“It was a steady day after what was a remarkable day on Monday,” a trader said. “There is a bounce back in markets, but nothing hugely dramatic. There is a modest recovery, but you would have thought it might have been busier given the volatility that is around.”
Among the financial names, AIB was up 1.5 per cent, while Bank of Ireland finished flat.
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Elsewhere, builders Cairn Homes and Glenveagh Properties were both flat at close of business, while insulation specialist Kingspan, which is one of the biggest companies trading on the index, was down 0.6 per cent.
In the food sector, Glanbia finished the day up 1 per cent, while Kerry Group was down just over 1 per cent. Meanwhile, budget airline Ryanair climbed 0.5 per cent.
London
The blue-chip FTSE 100 index ended up 0.2 per cent, after its biggest fall in over a year on Monday. The mid-cap FTSE 250 index added 0.6 per cent after it fell to its lowest level in more than three months in the previous session.
Construction and materials shares were among the top gainers, up 1.1 per cent, lifted by a 11.6 per cent rise in Keller Group after it reported half-yearly results. The stock topped the FTSE 250 index.
Elsewhere, Domino’s Pizza Group fell to the bottom of the mid-cap index after it lowered its full-year profit forecast as it decided to pass on expected lower food costs to franchisees and offer more value deals to customers.
Travis Perkins was down 0.4 per cent after the building materials supplier cut its annual earnings guidance after reporting a 33 per cent decline in first-half profit.
Europe
On the continent, the Euro Stoxx 600 index rose 0.46 per cent in a volatile session with a dip of about 0.5 per cent at its lowest point.
[ Global stock markets fall sharply as worries grow over US recessionOpens in new window ]
Elsewhere, Germany’s Dax failed to rally, finishing down 0.1 per cent, while France’s Cac lost 0.27 per cent. Italy’s FTSE Mib also finished in the red, falling by 0.6 per cent, and Spain’s Ibex fell 0.3 per cent.
Euro zone government bond yields rose slightly after hitting a seven-month low on Monday. Germany’s 10-year yield was last up one basis point at 2.191 per cent, having touched 2.074 per cent on Monday before recovering to end little changed on the day.
New York
Wall Street’s main stock indexes rose more than 1 per cent as investors looked for bargains after a global stock sell-off and dovish comments from Federal Reserve officials lifted market sentiment.
All of S&P 500′s sub-indexes advanced, led by the real estate sector that was up 1.8 per cent.
[ Choppy trading in world stocks ahead of central bank movesOpens in new window ]
Among megacap and growth stocks, Nvidia made a sharp recovery with a 4.4 per cent gain after posting similar losses on Monday.
Apple slipped more than 1 per cent, extending a nearly 5 per cent drop in the previous session after Warren Buffett’s Berkshire Hathaway cut its stake in the iPhone maker by half.
Among other movers, Palantir Technologies surged 11.8 per cent after the software services provider raised its annual revenue and profit forecasts for the second time this year.
Uber jumped 7.7 per cent after it beat Wall Street estimates for second-quarter revenue and core profit, helped by steady demand for its ride-sharing and food-delivery services.
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Caterpillar added 3 per cent after beating analyst estimates for second-quarter profit, as higher prices on its larger excavators and other equipment countered moderating demand in North America.
Kenvue added 13.2 per cent after beating estimates for second-quarter profit and revenue, helped primarily by better-than-expected sales in its essential health products unit. – Additional reporting: Agencies
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