Global stocks were slightly higher on Tuesday, after a sharp rally in the prior session on hopes US President Donald Trump would take a more measured approach on tariffs than feared.
Dublin
Euronext Dublin finished the day up 0.1 per cent on what was a quiet day for investors on the market.
AIB rose almost 1 per cent to €6.63. It emerged after the market closed that Goldman Sachs had started to sell about a 3 per cent stake in the bank on behalf, according to market sources, of an institutional investor.
It follows a 24 per cent surge in the value of the stock so far this year – even after accounting for a pullback from its recent peak. Six international investment firms own at least 3 per cent of AIB, according to Bloomberg data. Meanwhile, Bank of Ireland climbed 2 per cent.
Among the housebuilders, Cairn Homes finished the day down 0.7 per cent, while its peer Glenveagh Properties was up 0.9 per cent at close of business.
The only other stock on the index to trade more than a million shares was budget airline Ryanair, which finished up 0.8 per cent.
London
The FTSE 100 finished 0.3 per cent higher amid a boost from Shell’s fresh strategy update.
The oil major lifted after it set out five-year plans to ramp up cost savings and cut spending as it pledged to “deliver more value with less emissions”. Shell shares closed 1.5 per cent higher after the update was welcomed by shareholders.
It helped to push London’s top index into the green despite weakness in the retail sector.
Kingfisher shares slid 14.1 per cent after the B & ner revealed its yearly profit dropped by more than a third and flagged weaker demand for big purchases.
Fever-Tree shares lifted 4.4 per cent on the back of a 9 per cent rise in US sales after American beer maker Molson Coors bought a stake in the company, giving it exclusive rights to market its drinks in the US.
AO World was up 1.9 per cent after the online retail firm said it expects annual profits to jump by nearly a third despite a shaky consumer backdrop.
Europe
On the continent, sentiment was broadly positive as a lack of fresh news regarding tariffs helped to calm the markets and drive more buying activity.
The Cac 40 in Paris ended 1.1 per cent higher for the day, while the Dax index was up 1.1 per cent at close of business. Elsewhere, the Stoxx Europe 600 rose 0.7 per cent, while the MSCI World Index was up 0.3 per cent.
Meanwhile, euro zone bond yields rose as traders piled into risky assets on signs of flexibility in the next round of US tariffs and stronger-than-expected US data, while improved business morale in Germany also helped.
New York
Wall Street’s major indexes edged higher in choppy trading as investors assessed consumer sentiment data and anticipated a more flexible trade policy stance from the Trump administration next week.
US President Donald Trump on Monday hinted at a potential reprieve, suggesting that not all proposed tariffs would be enforced by April 2nd, with certain countries possibly receiving exemptions.
The benchmark S&P 500 and the tech-heavy Nasdaq soared to their highest levels in over two weeks, bolstered by robust performances from megacap stocks like Nvidia and Tesla.
However, the lingering uncertainty over mr Trump’s unpredictable tariff strategy continued to cast a shadow over market sentiment, positioning the S&P 500 for its first quarterly loss in six periods.
Tesla shares slipped 0.4 per cent after a substantial 12 per cent rally from the previous day. Despite a general rise in electric vehicle registrations across Europe, data for February revealed a year-on-year contraction in Tesla’s market share.
Among others, McCormick & Company dropped 1 per cent after the food processing company missed estimates on quarterly profit. (Additional reporting: Agencies)
