Paris shootout weighs on CAC40 performance
Published 19/11/2015 | 02:30
Irish travel software firm Datalex said it remains on target to meet expected profit growth of between 20-25pc this year as more airline customers went live with its product.
Those new customers included US airline JetBlue. Its shares had barely changed during the day.
Elsewhere, European stocks had retreated by mid-afternoon yesterday, as investors assessed value after the strongest rally in six weeks, with France's CAC 40 Index among the biggest decliners amid the fallout from the Paris attacks.
By mid-afternoon in Dublin, the ISEQ Overall Index was down 0.31pc, or 20.39 points, to 6558.15.
The leaders on the Dublin market included speciality baker Aryzta, which rose 3.5pc to €42.46, while property investment group Green Reit increased 0.2pc to €1.51.
On the other side of the board, the laggards included fruit company Fyffes, which was down 0.7pc to €1.55, while bookmakers Paddy Power had slipped 0.5pc to €114.95.
State-owned AIB continued its sharp drop, down 31.8pc by mid-afternoon to 4 cents, and has halved in price over the last two days.
Elsewhere, Air Liquide slid the most on the French equity gauge, falling 6.7pc after agreeing to purchase US rival Airgas.
The CAC 40, which jumped the most in six weeks yesterday, retreated 0.7pc at 2:21pm in Paris after the shootout left at least two people dead.
L'Oreal slid 1.2pc and BNP Paribas lost 0.9pc in France. The Stoxx Europe 600 Index fell 0.3pc to, paring earlier losses of as much as 0.8pc.
The Stoxx 600 is falling after a rally in energy producers helped push it higher in the two trading days following the attacks in Paris.
The gauge closed yesterday 12pc higher than its September low, boosted by optimism that the European Central Bank will add to stimulus measures.
"You've had a good run in the market so there's a short-term profit taking after a really strong day," said Patrick Spencer, equities vice chairman at Robert W Baird & Co in London.
"On top of that, the strong US inflation numbers put further evidence that there's going to be a rate hike and that's a concern of European equities as it makes borrowing more expensive for companies."
Investors were also awaiting minutes from the Federal Reserve due after the close of European trading to gauge the likelihood of an increase in borrowing costs next month.
Inflation data from the United States on Tuesday bolstered the case for higher interest rates.
European stocks will be under pressure in the near term because it's unlikely that riskier assets such as equities will do well if the Fed raises rates and financial conditions tighten, Deutsche Bank's Sebastian Raedler wrote in a note.
UK Mail tumbled 11pc to the lowest in almost three years after the delivery service said it's cutting dividends.
Expenses associated with a new headquarters and upgrading equipment will weigh more than previously expected on 2016 earnings.