World markets down as boost from inflation data fades

World markets were down by closing time on Thursday, reversing a rally earlier this week as inflation data fuelled hopes that central banks might be finished raising interest rates.

In Dublin the Iseq All Share did not perform as well as its European peers, with little on the upside among individual stocks.


The Iseq All Share lost 1.47 per cent on Thursday, closing at 8,134.65. The Irish banks all saw losses on the day as AIB fell by 1.66 per cent to €4.15, Bank of Ireland lost 1.23 per cent to close at €8.51, and Permanent TSB closed at €1.77 after losing 1.12 per cent.

The Irish Stock Exchange’s two home-builders were in the red. Cairn Homes fell by 1.79 per cent to €1.21 and Glenveagh Properties lost 2.32 per cent to close at €1.01.

Paddy Power parent company Flutter Entertainment lost 1.9 per cent to close at €142.10, while food company Kerry Group lost 0.54 per cent to close at 73.52, and budget airline Ryanair fell by 0.78 per cent to €17.28.

Building materials company Kingspan lost 1.25 per cent on the day, closing at €67.92, while packaging company Smurfit Kappa also fell, down 4.51 per cent to €31.32.

Among the few listed companies that saw gains on the day Origin Enterprises rose by 3.75 per cent after the agri-services group announced plans to buy back €20 million of its shares despite a slump in first-quarter revenues caused by the ongoing softening of feed and fertiliser prices.

Also on the upside, nutrition group Glanbia rose by 0.26 per cent to €15.39, mining company Kenmare Resources rose by 1.76 per cent to €4.62, and life sciences investment company Malin Corporation gained 7.28 per cent to close at €4.42.


The UK’s export-heavy FTSE 100 Index lost 1.01 per cent on Thursday, while the more domestically-focused FTSE Mid-Cap 250 Index

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