Market buoyed by strong gains for Novo Nordisk
European shares settled near a record high on Friday and marked their longest streak of weekly gains in nearly a year,The Iseq Overall Index ended the session 3 per cent higher, finishing the week on an upbeat note as banking and construction stocks surged.
Banking shares also performed well, with AIB and Bank of Ireland gaining 1.7 per cent and 3.47 per cent respectively. In corporate news, Standard Chartered rose 3.8 per cent to a near decade high after the bank announced a new $1.5 billion share buyback and reported an 18 per cent rise in annual profit.
Banks added 1 per cent and emerged as the standout performer of the week, poised to secure their ninth consecutive weekly gain – the longest streak since February 1997. Data published by S&P Global showed US business activity nearly stalled in February amid mounting fears over tariffs on imports and deep cuts in federal government spending.
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