Friday 9 December 2016

ISEQ steady as European stocks ease on Greek anti-climax

Published 18/07/2015 | 02:30

An anti-austerity protester stands in front of Greek parliament in Athens - fears of a Greek exit from the Euro zone has eased
An anti-austerity protester stands in front of Greek parliament in Athens - fears of a Greek exit from the Euro zone has eased
Greek Prime Minister Alexis Tsipras speaks with German Chancellor Angela Merkel (L) and French President Francois Hollande at a euro zone leaders summit in Brussels, Belgium

European stocks yesterday yielded some of the ground they had made in recent days after fears of a Grexit eased.

  • Go To

Shares also fell despite better than expected earnings figures from some of the region's biggest companies.

The pan-European FTSEurofirst 300 index closed flat, remaining near six-week highs.

"The earnings announcements are mixed and there is a little bit of an anti-climax after the Greece headlines," said Markus Huber, trader at brokerage Peregrine & Black. "A lot of people did not expect the worst to happen and so money had already poured in."

In Ireland, the ISEQ Overall Index followed the wider downward trend yesterday, but it barely nudged into the red, shedding just 0.17pc, or 10.89 points, to enter the weekend at 6,480.87. The index is up almost 40pc over the past year.

Shares in Permanent TSB made more strong gains, rising 4.7pc, or 24 cent, to €5.31, while Bank of Ireland closed down slightly at 37 cent.

Packaging firm Smurfit Kappa lost just under 1pc, or 27 cent, to €27.90, while insurance firm FBD fell 1.4pc, or 13 cent, to €9.36.

Aer Lingus remained at IAG's offer price of €2.50 per share, with the British Airways owner now effectively having over 80pc of Aer Lingus shares in the bag.

In London, DCC fell 1.2pc to £52.00 after it reiterated full-year guidance following a strong performance in its first quarter.

Its technology unit lagged expectations, however. The FTSE-100 dipped 0.31pc, while Germany's DAX fell 0.37pc. France's CAC-40 closed up a whisker.

Volvo dropped 6.3pc after the company warned it expected little growth in North America in coming years.

Shares in Ericsson rose as much as 6pc after its second-quarter results topped forecasts by analysts.

Irish Independent

Read More

Promoted articles

Editors Choice

Also in Business