Monday 23 July 2018

Iseq down as European markets rise

Traders work on the floor of the New York Stock Exchange (NYSE)
Traders work on the floor of the New York Stock Exchange (NYSE)

Sean Duffy

The Iseq Index fell by 52.84 points yesterday to close at 5786.54, down 0.9pc.

The biggest gains in Dublin were for First Derivatives, whose stock rose almost 10pc.

Donegal Investment Group gained 4.8pc, while software firm Datalex's shares rose by 4.4pc.

Shares in Ryanair suffered losses of 1.2pc to close at 11.485, while Paddy Power Betfair fell by 1.3pc. Bank of Ireland shares were down 4.6pc. Merrion Pharma was the day's biggest loser after shares in the company closed down 18.7pc.

On European markets, the DAX was up 0.6pc in Germany, the French CAC rose 0.3pc, while in London, the FTSE 100 also saw a rise of 0.3pc

In Japan, the Nikkei 225 index saw losses of -1.4pc after expectations about the scope of the government's quantitative easing plans were dampened. A report released yesterday revealed that the Japanese government would inject €51bn into the economy, but the spending will take place over a longer period of time than was previously projected.

Shares in US telecoms giant Verizon suffered losses yesterday after Monday's announcement of a $4.8bn (€4.3bn) takeover of Yahoo.

The share price was weighed down by lower than expected revenues which were affected by strike action at the communications firm earlier this year.

On the currency markets, 10-year German bonds rose 14bps but remain in solidly negative territory at -0.027.

US Treasury 10 year bills were flat at a yield of 1.5pc. Ten year Gilts were yielding 0.82pc, showing a rise of 1.5pc over the course of the day.

On commodities exchanges, the price of a barrel of crude oil was down to $42.89.

Irish Independent

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