European stocks dipped from record levels as investors monitored the outlook for trade with the US.
Dublin
The Irish market closed the week slightly off the pace, losing 0.5 per cent by the closing bell. Banking shares were mixed, with AIB gaining 1.3 per cent and PTSB remaining flat, while Bank of Ireland was down 1.5 per cent.
Insurer FBD, meanwhile, gained less than half a percentage point after its update on storm costs.
Kerry Group finished the day down 1 per cent at €98.25, rebounding from a low of €97.60 during the session. Fellow food group Glanbia fared better, gaining 0.2 per cent.
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Other gainers included Kingspan and Irish Continental, while Ryanair lost 1.3 per cent and hotels group Dalata was 0.8 per cent weaker.
London
British stocks also ended mixed on Friday, dragged down by the pharma sector and a stronger sterling hurting the export-oriented index, while encouraging earnings from XP Pensions provided a lift to the midcap index.
The FTSE 100 slipped 0.4 per cent, after achieving record highs for three consecutive sessions earlier this week.
The pharma sector fared worst, losing 1.8 per cent US group Moderna reported a bigger-than-expected quarterly loss.
Ulster Bank parent, NatWest lost 2.04 per cent after giving lacklustre guidance, adding to the losses in the benchmark index. Keeping those losses in check, British bookmaker Entain rose 6.8 per cent, after US peer, Draftkings, raised its 2025 revenue forecast.
Segro gained 1.3 per cent, after the warehousing group reported a 15 per cent jump in profit in 2024.
The FTSE 250 ended flat. XP Pensions, jumped 12.4 per cent, their highest since October 16th, after an upbeat revenue forecast. Over the week, the index was ahead by 0.8 per cent.
On the flip side, John Wood Group plummeted 55.6 per cent, after the British engineering firm said its free cash flow would be negative this year, instead of positive as previously expected.
Glencore gained 2.2 per cent, after the Financial Times reported that the miner had held preliminary discussions about selling its multibillion dollar copper and cobalt mines in the Democratic Republic of Congo.
Europe
The Stoxx 600 Index fell 0.2 per cent by the close of the session.
France’s Hermès International, the maker of the famed Birkin bag, rose as much as 5 per cent after its sales jumped almost 18 per cent in the fourth quarter. But the stock pared most of those gains to close 0.8 per cent higher.
Miners outperformed as iron ore prices briefly spiked after a powerful cyclone narrowly missed hitting the world’s main export hub in Australia. The insurance and healthcare sectors were the biggest laggards.
President Donald Trump has ordered his administration to consider imposing reciprocal tariffs on numerous trading partners. However, new measures may be weeks away from being implemented, raising the prospect for negotiations.
Among other individual stocks, Umicore shares dropped 9.4 per cent after the Belgium-based speciality chemicals firm proposed lower dividend and missed on half-year revenues.
New York
Wall Street’s main indices were muted on Friday, though set for firm advances over the week as a whole as treasury yields continued to decline a day after President Trump unveiled his reciprocal tariff plans but stopped short of imposing new ones immediately.
At 11.22am ET, the Dow Jones Industrial Average fell 103.18 points, or 0.23 per cent, to 44,608.25. The S&P 500 edged down 0.01 point to 6,115.06 and the Nasdaq Composite gained 9.67 points, or 0.05 per cent, to 19,955.32.
Nvidia outpaced most megacap and growth stocks, adding 1 per cent, while Apple bounced 0.8 per cent higher. Airbnb jumped 14.4 per cent after the vacation home rentals company posted higher quarterly revenue.
DaVita dropped 13.5 per cent after the dialysis firm projected annual profit below estimates. Warren Buffett’s Berkshire Hathaway also sold some of its shares in the company. – Additional reporting: Reuters, Bloomberg
