Thursday 21 September 2017

Markets... Investor optimism as European stocks rise

Aryzta boss Owen Killian
Aryzta boss Owen Killian

EUROPEAN stocks had increased by mid-afternoon yesterday as investor optimism rose that a compromise deal could be found for Greece.

By mid-afternoon in Dublin, the ISEQ Overall Index was up 1.9pc or 105 points to 5,774.04.

Greece looked poised to seek a six-month loan extension today with attention now focused on whether Eurozone finance ministers, who have been pushing an extension of the current bailout, will agree to cede ground.

The European Commission is "now working and looking if there is a possibility to find common ground toward this extension of the current programme", Valdis Dombrovskis, commission vice president for the euro, said yesterday.

The leaders on the Dublin market included speciality baker Aryzta, which rose 4pc to €66.45, while shipping and transport group Irish Continental was up 1.7pc to €3.47.

On the other side of the board, the mid-afternoon laggards included Kenmare Resources, which fell 5.8pc to 5 cents and Donegal Investments, which was down 0.9pc to €5.85.

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