Global stock indexes were mostly little changed on Tuesday while US Treasury yields eased as investors looked for more clues on how soon the Federal Reserve may start cutting interest rates.
Euronext Dublin was up 0.25 per cent at close of business but it underperformed many of its international peers.
Dalata – the biggest hotel operator in the State – was up 0.8 per cent as its share price climbed above pre-Covid levels for the first time since the end of the pandemic.
“There has been a big push on in Dalata over the past couple of weeks,” a trader noted. “They are obviously making good inroads in their UK market share as well.”
Elsewhere conglomerate DCC was up 0.7 per cent ahead of results on Wednesday.
Ryanair enjoyed a good rally to finish the day up 1 per cent, which was largely in line with other European airlines. EasyJet was a standout underperformer as it dipped 0.2 per cent, but Aer Lingus parent International Airlines Group, Lufthansa and Air France were all up.
Elsewhere, home builder Glenveagh Properties was down 1.3 per cent, while, among the financial names, AIB and Bank of Ireland were also a bit weaker. Insulation specialist Kingspan was also a bit weaker.
The FTSE 100 had a bumper session, buoyed by an excellent performance from BP, one of the capital’s biggest companies.
The oil firm saw its shares up nearly 5.5 per cent on the day after it pleased investors with more shareholder returns and a higher-than-expected profit.
BP is the fifth largest company on the FTSE 100, so its performance helped lift the index, which closed up 0.9 per cent.
The British government moved a step closer to selling shares in NatWest to the public as the bank said the offering could happen as soon as June. NatWest was nationalised by the then government