Tuesday 20 March 2018

ISEQ marks time as other markets fall in response to ECB moves

Traders work on the floor of the New York Stock Exchange. Photo: Reuters
Traders work on the floor of the New York Stock Exchange. Photo: Reuters
Charlie Weston

Charlie Weston

THE value of shares on the Irish Stock Exchange marked time yesterday as many European markets recorded losses.

Traders across the Continent were underwhelmed by efforts from the European Central Bank to stimulate growth.

The ISEQ Index of shares rose by 1.28 points to 6,753.

Ormonde Mining was the biggest riser, up 17.4pc, to 0.027c. Also up was Origin Enterprises, by 2pc to 7.26c.

Another mover upwards was financials group IFG, rising by 2pc to 2.30c.

Ryanair announced a new car parking service agreement with Looking4Parking, offering customers new parking rates at Dublin Airport.

The airline said customers can book access to the airport from three different car parks - Quick Park, the Clayton Hotel and Smart Park - and avail of airport shuttle buses, 24-hour security and a 'Keep Your Keys' facility, available on the Ryanair.com website. The shares were static at €14.32 in Dublin. The London market ended lower, as traders reacted to strong jobs data from the US and continued to feel underwhelmed by measures to boost spending across Europe.

Moves by the ECB on Thursday to cut its overnight deposit rate from minus 0.2pc to minus 0.3pc and extend its €60bn stimulus programme by six months, were at the bottom end of market expectations.

The FTSE 100 Index was down 36.7 points to 6238.3, after tumbling 146 points in the previous session after ECB president Mario Draghi announced the measures.

Germany's DAX was down 0.3pc, while the Cac 40 in France was marginally lower.

But in New York the Dow Jones Industrial Average was over 200 points higher in early trading, after official US data said 211,000 jobs were created in America last month.

Irish Independent

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