Global shares seesawed on Wednesday as investors await the outcome of key central bank meetings in the US and UK on Wednesday and Thursday, while tensions in the Middle East continued to dampen sentiment.
Dublin
The Iseq index advanced by 0.5 per cent, outperforming its European peers after positive moves for Ryanair and the Irish banks.
Ryanair advanced by more than 1 per cent to close at €23.59 per share as aviation stocks ticked higher across the board amid a drop in oil prices.
AIB gained just over 0.4 per cent to close at €6.82 per share after the State sold its remaining bailout-era stake in the bank on Tuesday. Bank of Ireland, meanwhile, advanced by 1.7 per cent to €11.89 per share.
PTSB was among the biggest winners of the session, climbing almost 3.5 per cent to close at €1.94 per share.
Meanwhile, listed home builders Cairn Homes and Glenveagh edged slightly lower to €2.18 and €1.75 per share while Kingspan dropped 1.3 per cent to €73.75 at closing bell.
London
The UK’s benchmark FTSE 100 rose 0.1 per cent and the mid-cap FTSE 250 closed up by 0.3 per cent as investors took heart from positive inflation data in advance of a key Bank of England meeting.
British inflation slowed in May, with services price inflation – a crucial metric for the Bank of England – cooling to 4.7 per cent from 5.4 per cent in April, matching the top bank’s forecast for May.
Pharmaceutical and biotechnology stocks were under pressure, with GSK and AstraZeneca both down more than 1 per cent, after Mr Trump said pharma tariffs were coming soon.
Burberry, Dr Martens and Moonpig Group were among the top decliners on the mid-cap index, meanwhile, as consumer goods-makers took a hit.
Oil majors Shell and BP, up 0.2 per cent and down 0.7 per cent respectively, were mixed amid ratcheting tensions in the Middle East.
Europe
European equities wavered with the blue-chip Stoxx 50 index and the pan-European Stoxx 600 both shedding slightly more than 0.3 per cent on the session.
Shares in Bayer advanced by 0.4 per cent, adding to the German chemical and pharmaceutical giant’s 2025 winning streak, which has seen the stock rise 40 per cent so far. Traders are betting on a possible breakthrough in Bayer’s long-running legal battle over Roundup weedkiller and that its experimental Asundexian drug might be a blockbuster treatment for preventing strokes.
Otherwise, pharmaceutical stocks were among the worst performers after Mr Trump’s latest tariff threat. Sanofi sank by 2.4 per cent while Merck shed 2.1 per cent and Novo Nordisk dropped 1.1 per cent.
Among other stocks, Airbus gained 3 per cent after the plane maker raised the upper range of its dividend payout target in advance of a business update.
New York
Wall Street’s main indexes rose on Wednesday, as the focus shifted from escalating hostilities in the Middle East to the Federal Reserve’s monetary policy decision expected later in the day.
Following strong monthly equity trading in May, the benchmark S&P 500 index and the Nasdaq were close to record peaks before the ongoing conflict in the Middle East made investors risk-averse.
The S&P 500 index stood 2.3 per cent below its record level, and the tech-heavy Nasdaq remained 2.7 per cent lower.
Among megacap stocks, shares of Tesla gained 2.7 per cent.
Shares in networking and custom AI chipmaker Marvell Technology hit a three-month high and were last up 7 per cent.
Circle Internet rose 6.2 per cent after the U.S. Senate passed a bill to create a regulatory framework for dollar-pegged cryptocurrency tokens known as stablecoins.
The Fed is expected to leave rates unchanged at its meeting, scheduled later in the day. – Additional reporting: Bloomberg, Reuters
