House building <\/a>activity slumped last month as rising costs sparked by the US-Iran conflict slowed construction countrywide, according to data published on Tuesday by AIB. <\/p>\nHowever, banks were higher, with AIB advancing 0.3 per cent to \u20ac10.46 and Bank of Ireland gaining 0.5 per cent to \u20ac17.76, as global followers of the sector digested a slew of update earnings reports from US banks. <\/p>\n
Ryanair rallied 0.5 per cent to \u20ac26.37 to recover some of its losses on Monday and earlier on Tuesday as a result of a spike in fuel prices. <\/p>\n
London<\/p>\n
The FTSE 100 index closed up 0.3 per cent at 10,529.39.<\/p>\n
Of Irish interest, DCC dipped 0.6 per cent to \u00a363.15 (\u20ac74), even though two US private equity firms \u2013 KKR and Energy Capital Partners \u2013 were said to be nearing a deal to buy the group for \u00a366.72 per share, including the payment of its planned \u00a31.47 final dividend. <\/p>\n
The oil price rise boosted BP, up 2.3 per cent, and Shell, up 1.2 per cent. BP gains came as it also delivered a strong second quarter trading update with the higher oil price supporting margins while it also made progress lowering debt.<\/p>\n
Higher metals prices boosted mining stocks, while a downgrade by JP Morgan helped send education publisher Pearson down 6.8 per cent.<\/p>\n
On the FTSE 250 Genus rose 3.7 per cent after saying it expects annual profit to come in ahead of market expectations, after a better than expected second half. The animal biotechnology and genetics company now expects adjusted pretax profit for the year to June 30 to rise 32 per cent. <\/p>\n
Meanwhile among smaller firms, Dublin-based oil and gas company Aminex shares closed 43 per cent lower after it partner on a Tanzania project, Ara Petroleu, said it wants to delay first gas from the Ntorya development. <\/p>\n
Europe<\/p>\n
In European equity markets on Tuesday, the CAC 40 in Paris ended up slightly, while the Dax 40 in Frankfurt rose 0.1 per cent.<\/p>\n
Among individual movers, Evotec plummeted 30 per cent after the German drug discovery firm \u200bcut its 2026 outlook.<\/p>\n
Mycronic surged 13 per cent after the Swedish electronics equipment maker raised its full-year guidance on strong AI demand. <\/p>\n
New York<\/p>\n
Wall Street\u2019s main indexes were ahead in early afternoon trading after softer-than-expected inflation data fuelled hopes the Federal Reserve could adopt a less hawkish stance on interest rates, while upbeat second-quarter \u200bresults lifted most of the big bank stocks.<\/p>\n
The data showed that the consumer price index rose 3.5 per cent in June from a year earlier, below Reuters-polled economists\u2019 forecast of 3.8 per cent.<\/p>\n
IBM shares lost more than a quarter of its value in early trading after the software and consulting firm forecast preliminary second-quarter revenue below estimates. <\/p>\n
Shares of some other software companies, including Oracle and Service Now, also fell. <\/p>\n
Big bank \u2060results kick-started the second-quarter \u200bearnings season on Wall Street. Goldman Sachs gained after it exceeded second-quarter profit expectations, as deal making picked up pace and market volatility due to the Middle East war boosted the equities business to a record.<\/p>\n
JPMorgan Chase, Bank of America, and Citigroup also advanced after reporting solid second-quarter results. \u2013 Additional reporting, Reuters, Press Association<\/p>\n","protected":false},"excerpt":{"rendered":"European shares edged higher on Tuesday following the release of softer-than-expected US inflation data and as investors welcomed…\n","protected":false},"author":2,"featured_media":549631,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11],"tags":[72,11982,113,65701,5763,61,60,1899,150177],"class_list":["post-549630","post","type-post","status-publish","format-standard","has-post-thumbnail","category-economy","tag-business","tag-dcc","tag-economy","tag-ftse","tag-ibm","tag-ie","tag-ireland","tag-ryanair","tag-strait-of-hormuz"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts\/549630","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/comments?post=549630"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts\/549630\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/media\/549631"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/media?parent=549630"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/categories?post=549630"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/tags?post=549630"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}