Business Irish

Monday 5 December 2016

Mixed day for Europe's bourses

Reuters

Published 05/08/2015 | 02:30

Traders are pictured at their desks in front of the DAX board at the stock exchange in Frankfurt. Photo: Reuters
Traders are pictured at their desks in front of the DAX board at the stock exchange in Frankfurt. Photo: Reuters

It was a mixed day for European stock exchanges yesterday, despite a general rebound staged by mining firms.

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In Greece, banking stocks tumbled again as the market there had its second day of opening after a six-week closure. But the main Athens index, the ATG, slipped just 1.2pc as nineteen of its 25 blue-chip stocks rose.

The pan-European FTSEurofirst 300 index was down 0.3pc and a broad measure of stocks in major markets globally was flat.

In Ireland, the ISEQ Overall Index also closed flat, at 6,631.36. Movement among bigger companies was relatively muted. CRH gained 0.6pc to €27.54, while Bank of Ireland shed 0.5pc to just under 39 cent.

Travel software firm Datalex rose 2pc to €2.05, making for a 30pc one-year return and valuing the company at almost €152m.

Recruitment firm CPL Resources edged slightly higher to €5.95. It releases full-year results next month. The UK's FTSE-100 was also almost unchanged for the day, closing at 6,686.57. France's CAC-40 slipped 0.1pc to 5,112.14, while Germany's DAX edged 0.1pc higher.

Yesterday saw something of a rebound for miners, with investors focusing on their ability to cut spending in the face of the commodity price drop. But sluggish trade kept energy stocks such as BG Group and BP in negative territory.]

Shares in Dublin-headquartered drug firm Shire slumped 5.8pc after its offer to buy Baxalta for about $30bn, urging its target to engage in a "negotiated transaction". Shire's statement said the tie-up would offer significant potential savings and a "compelling" tax profile.

Home improvement company Travis Perkins was among the FTSE 100's worst performers.

Irish Independent

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