Dublin market ends day marginally lower
European shares closed below their intraday highs on Monday after Germany reported higher-than-expected inflation. The Stoxx 600 lost some steam after five straight months of gains, amid high interest rates, continued Middle East tensions and uncertainty about the European Central Bank’s policy outlook weighed on sentiment.The Iseq Overall Index of shares closed marginally lower, ending the day off 0.13 per cent.
Packaging giant Smurfit Kappa was one of the winners of the day, adding more than 2 per cent to its share price over the session to finish at €40.88.A stronger session for miners and financial services stocks helped lift the FTSE 100 higher at the start of the week. It moved 7.2 points higher, or 0.09 per cent, to close at 8,147.03, the latest record high closing price for the index.
But reports on Monday suggested that BHP was considering raising its offer, helping lift shares in Anglo American 4 per cent higher.The pan-European STOXX 600 closed up 0.1 per cent, after logging its first weekly gain in four weeks on Friday. Germany’s DAX slipped 0.3 per cent after German preliminary data, ahead of Tuesday’s euro zone release, showed national inflation rose slightly in April due to higher food prices and a smaller drop in energy prices than in previous months.
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