Investors bet US Federal Reserve could pause rate hikes via IrishTimesBiz
Irish shares closed lower with the Iseq All Share index falling 0.4 per cent to 8,231.53.
CRH was also in demand, rising 1.2 per cent to €44.22, as investors continued to digest news that the building materials giant plans to drop its Irish listing in order to ensure eligibility to be included on major US indices as it moves its main listing to the US.London’s FTSE 100 closed 0.5 per cent higher supported by healthcare and energy stocks as signs of cooling inflation in the US, the world’s largest economy, boosted investor sentiment.
But analysts pointed to still sticky core inflation, and said the Fed was likely to deliver another 0.25 percentage point rate hike in May. West Africa-focused oil producer Tullow Oil slid 6 per cent on Jefferies’ downgrade to underperform from hold.Rate-sensitive real estate stocks were the top sectoral gainers on the Stoxx 600 on Wednesday, rising 1.1 per cent, while travel and leisure and technology stocks limited gains.
Mercedes-Benz Group gained 1 per cent after its first quarter sales rose on a boost from electric vehicles and premium cars.
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