Sunday 19 November 2017

ISEQ is flat ahead of results

THE ISEQ index of Irish shares closed flat in Dublin as investors face into a raft of corporate earnings updates over the coming days. It closed up 6.46 points at 4079, missing out on what was a lift in share prices around much of the world.

Elsewhere, world markets were buoyed by renewed optimism about growth prospects heading into the week's meetings of the US, British and European central banks.

Aer Lingus was among the small number of names to see any significant price moves, with shares down 3.14pc at €1.67 each ahead of today's publication of results for the first half of this year.

Smurfit Kappa shares were up 2.18pc at €14.51 ahead of its Q2 update today.

In London, Greencore was up 1pc at 152p each and Tullow Oil shares were up just under 1pc at £10.27 each, both ahead of results due today.

Shares in Barclays fell after Europe's sixth-biggest bank raised a larger than expected £5.8bn from its shareholders to help plug a capital shortfall identified by Britain's financial regulator. Shares were down 5.74pc. Rival lender Royal Bank of Scotland was down 2.52pc, while Lloyds was 1.53pc lower.


For many investors, the focus for the rest of the week will be on policy clues from the US Federal Reserve, ECB and Bank of England and from Friday's US jobs report for July.

In currency markets, the dollar recovered from losses against the yen after data showed US single-family home prices rose in May.

The Australian dollar reached a two-week low after hints from its central bank that another rate cut could be on the cards.

In Asia, Japan's Nikkei bounced up 1.5pc as the yen eased, though stocks elsewhere in the region finished flat. China's central bank's first injection of funds into money markets since February was balanced by some mixed data.

Pfizer, the biggest American drugmaker, was up 1pc after reporting second-quarter earnings above estimates.

Gold remains under pressure, with prices hurt by the recovery in the dollar. Oil lost 1.5pc to change hands below $104 a barrel.

Irish Independent

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