The Iseq All-Share index jumped 1.2 per cent with home builders standing out among performers
European shares rose on Wednesday, as dovish comments from US Federal Reserve chair Jerome Powell and fresh US economic data firmed rate cut expectations, while investors awaited the second round of the French vote and national elections in the UK.The Iseq All-Share index jumped 1.2 per cent to 9,425.80 with home builders standing out among gainers after Cairn Homes published a solid trading update saying its forward order book from homebuyers now stands €1.2 billion in value, up from €1.
The mid-cap FTSE 250 jumped 1.7 per cent in its best day this year, snapping a three-session losing streak. Among individual stocks, British Airways owner IAG gained 5.5 per cent after the EU antitrust regulator approved Lufthansa ‘s purchase of 41 per cent of Italy’s ITA Airways, boosting rival IAG’s hopes for its takeover of Air Europa.
French stocks climbed 1.2 per cent as opponents of France’s National Rally stepped up their bid to block the far-right party from power, with more candidates agreeing to pull out of this weekend’s run-off election to avoid splitting the anti-RN vote. The equity market will close early on Wednesday and stay shut on Thursday on account of US Independence Day, keeping trading volumes thin throughout the week.
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