European shares ended flat on Friday, pulled back from record highs by declines in the telecom and energy sectors. Rising bond yields further added downward pressure. The Iseq, however, closed up 0.4 percent, driven by gains in the banking sector and Kingspan. Meanwhile, Britain's FTSE 100 dipped 0.7 percent, while Wall Street's main indexes struggled for direction as investors assessed fresh economic data.
European shares retreated from record highs and settled flat on Friday, encountering downward pressure from declines in the telecom and energy sector s, further exacerbated by rising bond yields . The Iseq concluded the session with a 0.4 percent increase, driven by gains in the banking sector and Kingspan, despite a drop in Ryanair. The airline experienced a 0.7 percent decline to €19.73, while insulation manufacturer Kingspan surged by a similar percentage, closing at €69.80. AIB advanced 2.
1 percent to €5.77, while Bank of Ireland finished 0.9 percent higher at €9.75. Britain's FTSE 100 dipped 0.7 percent, as a surge in sterling negatively impacted export-oriented companies. However, Burberry soared following a robust US holiday season, enabling the luxury firm to surpass quarterly sales expectations. The FTSE 250 mid-cap index remained unchanged. Sterling reached a two-week high against the dollar on Friday, as a lack of concrete tariff policies during Donald Trump's first week in office weakened the dollar, subsequently putting pressure on shares of global companies like Shell and HSBC. UK-listed global miners, including Antofagasta, Glencore, and Rio Tinto, climbed as copper prices surged to their highest level in over two months, fueled by hopes of a US trade deal with China. Burberry shares jumped approximately 10 percent after reporting a smaller-than-expected 4 percent decline in quarterly comparable store sales and indicating a higher likelihood of recording a profit over its financial year. Diageo gained 4.3 percent following a report that the world's leading spirits maker is exploring the potential spin-off or sale of its beer brand Guinness and is reviewing its stake in LVMH's drinks division. Despite this dip, the benchmark index rose 1.3 percent over the week, marking its fifth consecutive weekly gain, its longest winning streak in nearly 10 months. Anticipation of next week's European Central Bank policy decision also contributed to the weekly performance. With the rate cut already factored into the market, investors will be closely scrutinizing policymakers' commentary on the future direction of interest rates for 2025. The telecommunications sector lost 2.8 percent on Friday, led by a 12.7 percent decline in Ericsson as the Swedish telecom equipment maker missed fourth-quarter profit estimates. The energy sector also shed 1 percent in tandem with oil prices. Luxury stocks advanced following British luxury brand Burberry's report of a smaller-than-expected decline in quarterly comparable store sales. Hugo Boss added 3.9 percent, Moncler jumped 3 percent, and Gucci owner Kering climbed 4.5 percent. MTU Aero dropped 6.5 percent after the German engine manufacturer announced Katja Garcia Vila would replace Peter Kameritsch as the next CFO. Wall Street's main indexes struggled to find direction on Friday, as investors exercised caution and assessed fresh data to gauge the health of the economy, while Boeing dipped after warning of a bigger-than-expected quarterly loss. An S&P Global survey revealed that business activity slowed to a nine-month low in January amid rising price pressures, but firms reported higher hiring, supporting the Federal Reserve's cautious approach to monetary policy this year. On the earnings front, American Express reported a 12 percent surge in fourth-quarter profit. However, its shares fell 3.1 percent and weighed on the blue-chip Dow. Boeing lost 0.3 percent after the planemaker warned of a fourth-quarter loss of about $4 billion
European Shares FTSE 100 Iseq Telecom Sector Energy Sector Bond Yields Burberry Boeing Wall Street
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