World shares were little changed on Monday, largely holding on to gains made last week following a slew of key central bank decisions.
European equities indices were weighed down by falling auto and airline stocks after Porsche cut its profit outlook, and European Union airports were hit with a cyber attack over the weekend, which continued to cause travel delays.
Dublin
The Iseq index shed 0.5 per cent, slightly underperforming its European peers amid losses for airlines and Irish banks.
Index heavyweight Ryanair shed slightly more than 1 per cent to close at €22.63 as part of a wider sectoral move as European airports continue to grapple with the fallout from last weekend’s cyber attack.
RM Block
AIB fell 1.3 per cent to €7.55 per share while Bank of Ireland was little changed at €13.40.
Home builders were mixed with Glenveagh up 0.9 per cent to €1.94 while Cairn Homes slipped 0.9 per cent to €1.90.
Europe
European shares fell flat as the cross-continent Stoxx 600 and the blue-chip Stoxx 50 indices edged 0.1 per cent and 0.3 per cent lower.
Fresh gains in mining and technology stocks, which rallied in recent days following Nvidia’s $5 billion investment in Intel, were largely offset by declines in automakers.
Germany’s Porsche slid 6.4 per cent after the luxury carmaker slashed its 2025 profit outlook as it dialled back plans for its electric vehicle roll-out due to weaker demand.
Shares of Porsche-parent Volkswagen, which also cut its 2025 profit outlook, fell by per cent.
Euro zone banks dipped, with Spain’s Sabadell down 3.8 per cent after bigger rival BBVA said it raised its bid for the bank by 10 per cent to €3.39 per share. BBVA also fell 2.4 per cent.
Helping stem some losses, technology stocks climbed, with chipmakers ASML and ASMI advancing 2.1 per cent and 1.9 per cent, respectively.
London
British stocks were little changed, with the benchmark FTSE 100 and mid-cap FTSE 250 flat on the session.
Airlines declined due to delays at European airports following a reported cyberattack. EasyJet, Aer Lingus owner IAG and Wizz Air fell by between 1.3 per cent and 3 per cent.
Automaker and parts companies fell, tracking losses in the broader European automobile sector after the Porsche announcement.
British luxury carmaker Aston Martin slipped 1.6 per cent, with Auto Trader flat and Halfords down 0.1 per cent.
Precious metal miners rose 5.1 per cent, the most among sectors, as gold hit a record high on rising expectations of a more dovish Bank of England interest rate path after last week’s decision to hold rates steady.
Fresnillo was among the top gainers again in the FTSE 100 with a 4.3 per cent rise, while Hochschild jumped 8.4 per cent.
Other miners, including Glencore and Rio Tinto, added 2.1 per cent and 2 per cent, respectively.
New York
After initially opening lower, Wall Street’s main indices continued to hover near record highs after a $15 trillion (€13 trillion) rally from April’s lows.
The S&P 500 saw a small gain on speculation that its surge has already priced in a range of positive developments, such as the restart of the Federal Reserve’s rate cuts.
Meanwhile, the Nasdaq Composite and the Dow Jones moved slightly higher.
Apple gained 2.4 per cent after Wedbush raised its target price on the company on strong demand signs for the iPhone 17.
Tesla and Apple both hit over an eight-month high, with gains boosting the S&P 500 technology and consumer discretionary sectors. They also lifted the Nasdaq to a record high.
Kenvue fell 5.9 per cent to the bottom of the S&P 500, in advance of the Trump administration’s announcement about its autism findings.
Fox Corp gained 2.6 per cent after a report said the media company’s top boss was eyeing a stake in TikTok. – Additional reporting: Bloomberg, Reuters
