World stocks were mostly higher on Thursday as dovish comments from Federal Reserve officials and a smooth auction of 30-year debt in Japan eased some recent government bond market jitters.<\/p>\n
Chinese bourses tumbled overnight on reports that Beijing wanted to cool a red-hot stocks rally, especially the tech sector , but Europe was having a much easier day and Wall Street pointed higher in morning trading.<\/p>\n
The S&P 500 and Nasdaq added about 0.2 per cent, while the FTSEurofirst 300 ticked up 0.4 per cent, as angst about rising long-term government borrowing costs in the likes of France, Britain and the US eased. <\/p>\n
Dublin<\/p>\n
Cairn Homes saw shares rise by 2.3 per cent despite posting a drop in earnings the previous day. The homebuilder, which celebrated its 10th anniversary in June, saw half-year revenue fell by 22 per cent to \u20ac284.5 million but the company said the first half of the year was always slower for completions while reiterating its earnings guidance. <\/p>\n
Ryanair in contrast was down over 3 per cent after announcing it was cutting back its flying plans to Spain, removing about 16 per cent of its winter capacity to one of Europe\u2019s busiest tourist markets in a dispute over higher airport fees. AIB and Bank of Ireland were marginally positive on the day.<\/p>\n
Europe<\/p>\n
European shares steadied on Thursday as investors held back amid bond market jitters, while a weak forecast from British budget airline Jet2 dragged the travel and leisure sector.<\/p>\n
The pan-European STOXX 600 wobbled in early trade and was broadly flat.<\/p>\n
Travel and leisure fell, with Germany\u2019s TUI and Easyjet down.<\/p>\n
British low-cost airline and travel firm Jet2\u2019s shares lost a quarter of its value after forecasting full-year operating profit to be towards the lower-end of its expectations.<\/p>\n
Porsche slipped 1 per cent as the luxury car maker\u2019s stock was to be relegated to the German mid-caps index following recent losses in its shares, hurt by US import tariffs and weakening demand in key market China.<\/p>\n
London<\/p>\n
UK shares nudged higher on Thursday, led by gains in consumer staples and utility stocks, while investors assessed corporate updates.<\/p>\n
Retail stocks rose 2.5 per cent, boosted by Currys ,up 16.9 per cent, after the electricals retailer said group sales rose 3 per cent in the summer period, putting it on track to meet forecasts. Currys also launched a \u00a350 million share buyback.<\/p>\n
Other major retailers also advanced with JD Sports Fashion up 2.2 per cent, Frasers up 3.3 per cent, and Next gaining 2.6 per cent.<\/p>\n
Consumer staples stocks such as Tesco, Unilever , Reckitt, and M&S also rose. Heavyweight bank stocks also advanced, with Lloyds rising 1.2 per cent.<\/p>\n
New York<\/p>\n
US stocks rose on Thursday as softer-than-expected labour market data bolstered the case for interest-rate cuts, offsetting a string of disappointing technology earnings.<\/p>\n
\u201cThe Federal Reserve\u2019s free pass on the labor market has ended,\u201d said Jamie Cox at Harris Financial Group. \u201cYou can expect the Fed to tilt its balance of risks to cut rates in September.\u201d<\/p>\n
The S&P 500 Index and the Nasdaq 100 Index each rose while a gauge of the so-called Magnificent Seven companies rose 0.5 per cent. <\/p>\n
In the tech sector, Salesforce sank 6.44 per cent in early trading after projecting lacklustre quarterly sales growth. Figma slumped 17 per cent after an underwhelming sales forecast. GitLab fell 8.6 per cent after the software company\u2019s outlook missed, and it said its chief financial officer is moving to Snowflake. Texas Instruments shed 5.5 per cent after its CFO warned a recovery is not quite snapping back as some have hoped. – Additional reporting by Reuters\/Bloomberg<\/p>\n","protected":false},"excerpt":{"rendered":"World stocks were mostly higher on Thursday as dovish comments from Federal Reserve officials and a smooth auction…\n","protected":false},"author":2,"featured_media":6676,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11],"tags":[72,2418,113,2419,61,60,123],"class_list":{"0":"post-6675","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-economy","8":"tag-business","9":"tag-economic","10":"tag-economy","11":"tag-financial","12":"tag-ie","13":"tag-ireland","14":"tag-markets"},"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts\/6675","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=6675"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts\/6675\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/media\/6676"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/media?parent=6675"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/categories?post=6675"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/tags?post=6675"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}