European shares were steady on Friday, and on track for a third straight weekly gain, as investors focused on French politics ahead of President Emmanuel Macron\u2019s expected announcement of a new prime minister.<\/p>\n
Dublin<\/p>\n
The Iseq Overall Index ended the week in the red, falling 1.3 per cent by the close of the day. <\/p>\n
Banking shares dipped, with AIB losing almost 2.5 per cent and Bank of Ireland down 2.3 per cent by the time markets closed. <\/p>\n
Shares in food groups were mixed, with Kerry Group up 0.2 per cent while Glanbia was down almost half a per cent. <\/p>\n
Construction-focused stocks suffered, with Kingspan shedding 1.35 per cent and home builder Glenveagh down 1 per cent. <\/p>\n
Ryanair also saw its share price decline, shedding 1.2 per cent, while ferries group ICG was down 1 per cent by the end of the day. <\/p>\n
London <\/p>\n
The benchmark FTSE 100 dropped 0.9 per cent to 9,427.47 and ended the week 0.67 per cent lower as losses in heavyweight energy and miners outweighed gains in consumer shares.<\/p>\n
The mid-cap index was down 1.14 per cent on Friday and also recorded a weekly loss of 1.8 per cent.<\/p>\n
The oil and gas sector was the biggest drag, down 2.9 per cent as oil prices declined to multi-month lows on Friday. Shell and BP were the biggest weights on the FTSE 100 with 2.9 per cent and 2.8 per cent declines respectively.<\/p>\n
The aerospace and defence sector fell 1.6 per cent. Rolls-Royce fell 1.4 per cent, while BAE Systems and Melrose lost 1.6 per cent and 2.6 per cent respectively.<\/p>\n
Endeavour Mining and Glencore were among the worst performers on the FTSE 100, as investors booked some profits after a recent rally.<\/p>\n
The benchmark index was weighed heavily by banks after HSBC\u2019s privatisation plans for a Hong Kong bank on Thursday, despite hitting record highs this week.<\/p>\n
Among other stocks, Ibstock lost 4 per cent, hitting its lowest level in over nine years after the bricks and concrete maker warned its annual profit would fall below expectations.<\/p>\n
Europe<\/p>\n
The pan-European Stoxx 600 was mostly flat and headed for a 0.1 per cent gain this week.<\/p>\n
Milan-listed shares of Stellantis gaining 1.6 per cent after the automaker said its global vehicle shipments rose 13 per cent year-on-year in the third quarter.<\/p>\n
German rival Mercedes jumped 2.1 per cent following its pre-close call on Thursday.<\/p>\n
Real estate climbed 0.9 per cent, on track to snap a four-day losing streak. Food & beverages rose 0.9 per cent, on pace to extend gains to a fourth straight session.<\/p>\n
Oil and shed 0.9 per cent with France\u2019s Technip down 5 per cent after Exane BNP Paribas downgraded its rating on the energy infrastructure company to \u201cneutral\u201d from \u201coutperform\u201d. Basic resources slipped 0.8 per cent, with ArcelorMittal down 2.9 per cent.<\/p>\n
New York <\/p>\n
Wall Street\u2019s calm was shattered on Friday after US president Donald Trump rattled markets with the threat of a \u201cmassive increase\u201d in tariffs on Chinese imports over a rare earths dispute, sending indexes tumbling and volatility spiking.<\/p>\n
The sharp sell-off in indexes disrupted a relatively quiet week for markets, which had <\/p>\n
A fresh flare-up in US-China trade tensions could weigh on global growth and cloud the outlook for corporate America, which is already navigating higher costs.<\/p>\n
At 12:11pm in New York, the Dow Jones Industrial Average fell 1.20 per cent, the S&P 500 1.56 per cent and the Nasdaq Composite lost 2.05 per cent.<\/p>\n
All three indexes were on track for weekly declines if current levels hold.<\/p>\n
The S&P 500 tech sector lost 2 per cent. Financials fell 1.4 per cent on the S&P 500, while energy stocks declined 1.8 per cent. \u2013 Additional reporting: Reuters <\/p>\n","protected":false},"excerpt":{"rendered":"European shares were steady on Friday, and on track for a third straight weekly gain, as investors focused…\n","protected":false},"author":2,"featured_media":190953,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[12],"tags":[5322,138,84,273,27409,1294,1398,12336,5323,5324,74078,4519,10028,467,3873,13479,5326,7596,5333,3356,5134,5334,5335,56,54,5336,55,741,659],"class_list":["post-190952","post","type-post","status-publish","format-standard","has-post-thumbnail","category-markets","tag-american","tag-americas","tag-business","tag-business-news","tag-college","tag-economy","tag-education","tag-higher-education","tag-i-p-o","tag-initial-public-offering","tag-initial-public-offerings","tag-ipo","tag-ipos","tag-markets","tag-new-york-city","tag-new-york-stock-exchange","tag-north-american","tag-nyse","tag-securities","tag-stocks","tag-u-s","tag-u-s-stock-market","tag-u-s-a","tag-uk","tag-united-kingdom","tag-united-states-of-america","tag-unitedkingdom","tag-us","tag-usa"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/posts\/190952","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/comments?post=190952"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/posts\/190952\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/media\/190953"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/media?parent=190952"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/categories?post=190952"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/tags?post=190952"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}