European shares posted their biggest weekly gain in 12 weeks on Friday, as banking stocks continued to drive the benchmark index upwards, while investors watched for signs of a potential Russia-Ukraine ceasefire.<\/p>\n
Dublin<\/p>\n
The Irish index of shares ended the week largely flat, as gains in banking stocks were offset by weakness in some other index heavyweights. <\/p>\n
Shares in AIB gained just under 1 per cent by the close of the session, ending the week at \u20ac6.98. Bank of Ireland performed better, adding 1.1 per cent and ending at \u20ac12.73. Permanent TSB was up 3.2 per cent, but volumes were thinner. <\/p>\n
Ryanair showed modest gains, adding 0.27 per cent, while Glanbia gained half a per cent. <\/p>\n
It was a weaker day for food group Kerry, which shed 1.3 per cent. Insulation specialist Kingspan was 0.8 per cent off the pace, after reporting record revenues, finishing the session at \u20ac71. <\/p>\n
London<\/p>\n
British stocks closed mixed as traders digested Thursday\u2019s Bank of England rate decision that reignited inflation worries.<\/p>\n
The benchmark FTSE 100 closed 0.06 per cent lower, but registered a weekly gain of 0.3 per cent. The more domestically-focused midcap FTSE 250 index rose 0.1 per cent and posted a weekly gain of 1.2 per cent.<\/p>\n
In the market, industrial metal miners rose 2 per cent, tracking higher copper prices. Miners such as Glencore and Antofagasta were the top percentage gainers in the FTSE 100, up 2.8 per cent and 2.5 per cent respectively.<\/p>\n
Automobiles and parts stocks led sectoral gains, rising 5.3 per cent, with British auto parts supplier Dowlais topping the FTSE 250 with a 5.7 per cent gain.<\/p>\n
Heading into the weekend, most firms pared back gains from earlier in the week, led by declines in personal goods and travel & leisure stocks, which fell 2.5 per cent and 1.7 per cent, respectively.<\/p>\n
Europe<\/p>\n
The pan-European STOXX 600 index rose 0.2 per cent on the day, taking its weekly gains to 2.2 per cent.<\/p>\n
Shares of German reinsurer Munich Re fell 7.2 per cent and ranked among the top decliners on the benchmark index after it trimmed its fiscal-year outlook for insurance revenue.<\/p>\n
Shareholders in Thyssenkrupp are set to vote on a spin-off of its defence division, sending its shares up 2.7 per cent, with European spending on defence raising expectations for the company\u2019s value.<\/p>\n
Lotus Bakeries\u2019 shares added 10.9 per cent after the Biscoff brand owner reported strong first-half results, its best daily performance in over a year.<\/p>\n
New York<\/p>\n
Wall Street advanced on Friday, taking indices closer to a strong weekly finish, after President Donald Trump\u2019s interim pick for a Federal Reserve governor post kept expectations alive for a dovish policy.<\/p>\n
At 11.29am ET, the Dow Jones Industrial Average rose 119.33 points, or 0.27 per cent, to 44,087.97; the S&P 500 gained 39.20 points, or 0.62 per cent, to 6,379.20; and the Nasdaq Composite gained 167.47 points, or 0.79 per cent, to 21,410.34.<\/p>\n
Mr Trump on Thursday nominated Council of Economic Advisers chairman Stephen Miran to a short-term board seat following Adriana Kugler\u2019s abrupt exit last week, as he narrowed his shortlist to succeed Fed chairman Jerome Powell, whose term ends on May 15th.<\/p>\n
Investors remain conflicted about the Fed\u2019s leadership overhaul, balancing concerns about the institution\u2019s independence against growing anticipation of deeper rate cuts ahead.<\/p>\n
In earnings-related moves, Gilead Sciences surged 8.6 per cent following its raising of the full-year financial outlook. Expedia jumped 4.4 per cent after raising its annual forecast for gross bookings and revenue growth.<\/p>\n
Pinterest tumbled 8.7 per cent after the social media platform missed analysts\u2019 estimates for second-quarter profit.<\/p>\n
Healthcare was down 1.2 per cent for the week, dragged primarily by Eli Lilly, whose shares tumbled in the previous session after late-stage study results showed its experimental GLP-1 pill lagged that of Novo Nordisk\u2019s. \u2013 Additional reporting: Reuters<\/p>\n","protected":false},"excerpt":{"rendered":"European shares posted their biggest weekly gain in 12 weeks on Friday, as banking stocks continued to drive…\n","protected":false},"author":2,"featured_media":54692,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[12],"tags":[64,63,99,11013,171],"class_list":{"0":"post-54691","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-markets","8":"tag-au","9":"tag-australia","10":"tag-business","11":"tag-horizontal","12":"tag-markets"},"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/posts\/54691","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/comments?post=54691"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/posts\/54691\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/media\/54692"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/media?parent=54691"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/categories?post=54691"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/tags?post=54691"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}