European shares ended lower on Tuesday, dragged down by heavyweight financial and healthcare stocks as investors awaited news on a potential US-EU trade deal while assessing the latest US inflation data.
DUBLIN
The Iseq All-Share index ended the session narrowly in the black, up 0.06 per cent at 11,262.29, on Tuesday.
Hotel group Dalata closed down 2.6 per cent to €6.37 after a Scandinavian consortium reached an agreement to buy the business for €1.4 billion.
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Permanent TSB was 1.91 per cent weaker on €2.05 after news broke early in the day that NatWest Group had sold its remaining 11.65 per cent shareholding in the bank, raising €126 million.
Ryanair also fell, giving up 0.88 per cent to €23.57 on the day, alongside healthcare services group Uniphar which dropped 1.08 per cent, continuing losses from yesterday.
Irish Ferries brand owner Irish Continental Group was the strongest performer on the index, closing up 1.44 per cent to €5.64. Gains by bankers kept the market in the green, with AIB rising 1.19 per cent and Bank of Ireland adding 1.25 per cent.
LONDON
The FTSE 100 retreated from record highs as rising US inflation raised concerns about the impact of tariffs. Investors also focused on the Bank of England’s monetary policy path.
The blue-chip FTSE 100 dropped 0.7 per cent to 8,938.32, having crossed the 9,000 mark for the first time earlier in the day, while the domestically oriented FTSE 250 index fell 0.2 per cent.
British stocks have largely shrugged off concerns about chaotic US trade policies, with the UK being the first country to secure a trade deal with the United States.
Among individual stocks, GSK fell 1.5 per cent after the US Food and Drug Administration raised safety concerns that the drugmaker’s blood cancer drug Blenrep, when used in combination with other treatments, may cause eye damage in patients.
Experian rose 4.3 per cent after the credit data firm reported 8 per cent organic revenue growth in its first quarter and reaffirmed its annual forecasts.
Britain’s largest home builder Barratt Redrow slumped 8.9 per cent after it said home completions missed expectations for fiscal 2025.
EUROPE
The pan-European STOXX 600 index fell 0.36 per cent. Several big European defence stocks were weaker after US President Donald Trump threatened to impose stiff economic penalties on Russia if it doesn’t end hostilities with Ukraine within 50 days. The threat came as he pledged fresh weapons supplies for Kyiv.
Rheinmetall dropped 2.77 per cent and Dassault Aviation fell 2.47 per cent.
In the euro zone, the banking index slipped 1.1 per cent. Germany’s Commerzbank, Italy’s Banco BPM and France’s Société Générale each fell more than 2 per cent
Healthcare also lagged, with Danish drugmaker Novo Nordisk sliding 2.3 per cent. Ericsson reported upbeat results but the Swedish telecom equipment maker’s shares declined 7.7 per cent after it warned that tariffs could crimp its margin growth.
Danish offshore wind developer Orsted gained 8.3 per cent after Morgan Stanley raised its rating to “overweight” from “equal weight”.
Accelleron rose 8.7 per cent to a record high after the engine components maker increased its revenue forecast for 2025.
NEW YORK
The Nasdaq cruised to a fresh record high in midafternoon trading on Tuesday, powered by a jump in Nvidia, while the S&P 500 hovered below its peak as investors digested an inflation report and a flurry of big bank earnings.
AI-chip leader Nvidia was higher after unveiling plans to resume sales of its H20 AI chip to China. Other chipmakers also advanced, including Advanced Micro Devices and Super Micro Computer. The gains led the technology sector to a record high.
JPMorgan Chase slipped despite raising its 2025 net interest income outlook, while Wells Fargo fell even as its profit rose on reduced loan-loss reserves.
BlackRock notched a new milestone, managing a record $12.53 trillion in assets amid optimism over trade deals and rate cuts, yet its shares were also weaker.
The KBW Bank Index sank to a two-week low, but Citigroup bucked the trend by climbing after its traders delivered a windfall that boosted second-quarter profits. – Additional reporting, Reuters, PA.
