Chip stocks rebound ahead of Nvidia results, crucial to future AI
European shares closed at a record high on Wednesday as investors assessed a critical minerals agreement between the US and Ukraine. Euro zone government bond yields held near their lowest in over a week as traders eyed hurdles to an expected increase in European defence spending.Shares at Glanbia dropped over 23 per cent on a day when the Irish food group flagged an anticipated fall in earnings of up to 11 per cent due to the rising cost of a key ingredient in its protein powder products.
Elsewhere, Kerry Group fell 1.35 per cent to €98.95. Mincon Plc, the Irish engineering tools group, fell 2.4 per cent to 40 cent. Ryanair climbed 2.12 per cent to €20.68.Britain’s FTSE 100 touched one-week highs on Wednesday, led by gains in banks and mining stocks, while luxury retailer Burberry boosted the midcap index following a rating upgrade.Banks were the biggest boost to the index, with mortgage lender Lloyds gaining 4.
The pan-European STOXX 600 index was up 1 per cent, boosted by banks for a second consecutive session. Nvidia’s quarterly results and forecasts, expected after markets close, are likely to set the tone for artificial intelligence stocks that have dominated Wall Street.
Ireland Latest News, Ireland Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
European Shares Hit Record Highs as Defence Stocks Surge Amid Ukraine WarEuropean shares climbed to record levels on Monday, fuelled by a surge in defence stocks following calls for an emergency summit on the Ukraine war and increasing US pressure for heightened military spending. Meanwhile, UK banks dipped after the Supreme Court refused to allow the Treasury to intervene in a controversial car loan case, raising concerns about potential costly compensation payouts.
Read more »
Ukraine's Kursk incursion: a bargaining chip in peace talks?Ukrainian forces captured a swathe of territory in Russia's Kursk region, prompting Moscow to deploy North Korean troops to retake it. Kyiv claims the operation pinned down Russian troops, thwarted attacks and inflicted heavy losses. While Russia denies these claims, Ukraine suggests the captured territory could hold value in future peace negotiations potentially brokered by former US President Donald Trump.
Read more »
Ireland Stands with Ukraine but Calls for Caution on European ArmyIrish Prime Minister Micheál Martin reaffirmed Ireland's support for Ukraine at the Munich Security Conference. While Ireland backs Ukraine's security and EU membership, Martin dismissed the idea of a European army as a priority. Harris, the Irish Tánaiste, pledged to increase Ireland's defense spending and acknowledged the evolving security landscape in Europe.
Read more »
European Leaders Summoned for Emergency Ukraine SummitFrench President Emmanuel Macron is convening an emergency summit in Paris with leaders from Germany, Italy, Poland, the UK, and Denmark to discuss the war in Ukraine following US President Trump's suggestion of ending support for Ukraine and Europe.
Read more »
Wang Yi to Visit Dublin After Calling for European Role in Ukraine TalksChinese Foreign Minister Wang Yi emphasized China's stance on Europe's involvement in Ukraine peace talks during the Munich Security Conference. He met with leaders from Germany, France, Spain, and the EU, advocating for a European role in addressing the root causes of the crisis and achieving long-term stability. Wang Yi's upcoming visit to Dublin will likely focus on EU-China relations, Ukraine, the Middle East, and bilateral ties.
Read more »
European leaders meet over Trump plan for talks to end Ukraine warUS view that Europe should not be part of the negotiations sparks alarm in EU capitals
Read more »