Markets were muted for the final hours of 2024 trade on Tuesday with little corporate news to spur investors’ interest.
DUBLIN
Irish banks all climbed higher in the final hours of 2024 trading, with dealers in Dublin noting that overall volumes were light on a truncated day’s business.
Bank of Ireland gained 1.33 per cent to close at €8.806 while AIB inched up 0.38 per cent to €5.33. PTSB was the sector’s top performer, gaining 2.13 per cent to €1.44.
“Volumes are very very light,” said one dealer shortly in advance of the early 12:30pm close.
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Ryanair dipped 0.24 per cent to €19.065, although it did hit a high of €19.225 early in the day. Another big stock, insulation and building materials specialist, Kingspan, was 0.7 per cent up at €70.45.
Meanwhile, housebuilders Cairn Homes and Glenveagh Properties, among the market’s top performers in 2024, both slipped slightly on Tuesday. Cairn dipped 0.85 per cent t €2.325 while Glenveagh inched 0.25 per cent down to €1.60.
Ingredients and food group Kerry, added 0.76 per cent to close at €93.25. Miner Kenmare Resources added 1.05 per cent to €3.84.
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The Iseq Index of Irish shares added 0.4 per cent to end 2024 on 9,757.27, to close out a year during which the index added more than 11.6 per cent to its value.
LONDON
The UK’s blue-chip FTSE 100 stock index has recorded its strongest annual gain since 2021, despite lagging behind Wall Street over the past year, posting a rise of 5.7 per cent for 2024.
Wizz Air gave investors some focus on Tuesday as it gained 1.2 per cent to 1,439 pence sterling. The Budapest, Hungary-based low-cost airline said that 40 of its aircraft would remain grounded through to 2026 due to a maintenance issue with their Pratt & Whitney engines, a problem that has hit several European carriers.
Pratt & Whitney will provide compensation and commercial support, Wizz said in a statement early on Tuesday.
By contrast, Aer Lingus owner International Consolidated Airlines Group, dipped 0.72 per cent to close at 301.9p. However, the stock remained one of the London market’s best performers in 2024, gaining more than 90 per cent throughout the year.
Leading aircraft engine maker Rolls-Royce slipped 0.32 per cent to 568.60p, but also remained one of the London market’s best stocks in 2024 with a 90 per cent-plus gain for the year.
Clothing chain JD Sports Fashion added 3.32 per cent to 95.90p, making the seller of Nike, Addidas and other brands one of the final day’s leading stocks. However, it has lost more than 40 per cent of its value overall in what was a turbulent 2024 for the group. It warned on volatile sales in November.
EUROPE
In Europe, the Stoxx 600 index rose 0.51 per cent but closed out the session with its biggest quarterly percentage drop in more than two years. It ended 2024 with a gain of 5.99 per cent for the year as a whole.
Trading volumes were subdued in advance of the new year holiday. Stock markets in Germany, Italy and Switzerland were closed on Tuesday, while those in Spain and France had a half-day trading session.
NEW YORK
US stock indices were drifting lower in early trade as Wall Street prepared to close out another milestone-shattering year of gains.
The S&P 500 gave up an early gain and was down under 0.1 per cent around 4pm Irish time. The benchmark index was coming off back-to-back declines of more than 1 per cent. The Dow Jones Industrial Average was down 3 points, or less than 0.1 per cent. The Nasdaq composite was down 0.3 per cent.
However, about 80 per cent of the stocks in the benchmark S&P 500 were higher. Gains in energy, financial and other sectors tempered declines in technology and other stocks. Oil big Exxon Mobil rose 1.5 per cent and lender Visa was up 0.5 per cent.
Internet domain name registrar VeriSign rose 0.9 per cent after Warren Buffett’s Berkshire Hathaway disclosed it had increased its stake. The investment guru’s business paid $15.6 million for almost 76,500, bringing its stake in the firm to 13.2 million shares.
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