European markets were mostly flat on Thursday with results from leading car makers driving investors' interest.
Dublin
Shares in Corre Energy slumped 43.2 per cent to 5.68 cent after the renewable storage company said it would axe its stock market listing in a bid to shore up its finances.
If shareholders approve the move, Corre will de-list from the Irish Stock Exchange on March 28th. Corre’s shareholders will meet on March 20th to vote on the plan.
Dealers reported a lot of activity in Kingspan stock as the insulation specialist prepares to report results on Friday.
The stock closed 0.74 per cent down at €66.80.
Insurer FBD climbed 3.57 per cent to €13.05.
Among smaller stocks, Dalata Hotel Group slipped 1.48 per cent to €4.65 while travel software business Datalex advanced 10.53 per cent to 42 cent.
Elsewhere AIB added almost 1 per cent to close at €6.235 while peer Bank of Ireland edged up 0.2 per cent to €10.09.
Permanent TSB gained 2.04 per cent to end the day at €1.50.
London
Bord Gáis Energy owner Centrica was one of the leading performers on London’s blue chip FTSE 100 as its results beat expectations.
Earnings were down one third at £2.3 billion, but the market had already factored in a slide on lower energy profits.
The shares closed 5.6 per cent ahead at 143.55 pence sterling, having risen 7 per cent at one point.
Earlier the British utility pledged to step up investment in the Republic where it is a key player in the energy market through its subsidiary, Bord Gáis Energy.
Banker Lloyds closed 4.87 per cent up at 65.9p. The group said it had set aside £1.2 billion to cover the cost of potential pay outs from a row over car finance, £700 more than originally earmarked.
Stripping out the impact of the motor finance controversy, the group’s earnings beat expectations.
It also plans to return an extra £1.7 billion to investors in an extended share buyback.
Europe
Repsol shares soared more than 7.2 per cent to €13.06 after the energy group announced a €300 million share buyback.
French electrical equipment, automation and switches specialist, Schneider Electrical, which is active in the Republic, was up 3 per cent at the close of business at €254.60 after beating market expectations with record annual sales and profits.
The stock rose as much as 6 per cent during the day. Schneider’s revenues last year grew 8 per cent to €38 billion, net income rose 7 per cent to €4.3 billion.
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The Stoxx 600, which tracks leading shares across 18 European markets, was down 0.18 per cent on Thursday.
Car makers provided a big focus. French group Renault reported that operating profits last year rose 3.5 per cent to €4.3 billion.
Its shares were down 4 per cent at €49.13, but have been gained ground since the beginning of the year.
In contrast, Mercedes Benz said earnings slumped 40 per cent as sales suffered in Germany and China. Its shares were down 2.5 per cent at €59.63.
New York
US stocks fell on Thursday, with the S&P 500 pulling back from a fresh record.
The Dow Jones Industrial Average had shed 607 points 1.3 per cent by 5:15pm Irish time.
Index stalwart, supermarket chain, Walmart dropped more than 6 per cent after the company said it expects fiscal year sales to grow between 3 per cent and 6 per cent.
The company’s fiscal 2026 earnings outlook, meanwhile, was below analyst expectations. The weak guidance overshadowed fiscal fourth-quarter earnings that topped estimates.
