European markets experienced significant gains, with France's CAC 40 index surging to a record high. The positive performance was driven by resilient corporate earnings and optimism despite rising trade uncertainties with the US. Irish shares also rose, with Kingspan and Bank of Ireland performing particularly well. The Bank of England's decision to cut interest rates further boosted the FTSE 100 to a record high.
France ’s CAC 40 Index jumped 1.5 per cent to 8,007.62, recouping all the declines sparked by last summer’s political turmoil. Photograph: Eric Permont/AFPIrish shares rose alongside European markets. Insulation maker Kingspan was one of the day’s big movers after Danish rival, Rockwool, reported better than expected results for last year.
Ryanair had a slow day in comparison to other air travel stocks, ending flat on €20.50, although the stock did reach €20.61 in early trade.Davy says State needs 93,000 homes a year as SCSI says now is the time to invest in infrastructureElsewhere, AIB rose 3.06 per cent to €5.90 while peer Bank of Ireland closed 3.2 per cent up at €9.85.The FTSE 100 reached a record high on Thursday after the Bank of England announced that it is cutting interest rates.The UK’s central bank cut rates to 4.
France’s CAC 40 Index jumped 1.5 per cent to 8,007.62, recouping all the declines sparked by last summer’s political turmoil.Irish Distillers owner Pernod Ricard gained 3.2 per cent to €105.60, even as it cut its sales outlook for the year, saying China’s slowdown was weighing on demand for its Martell Cognac.US stocks rose as traders braced for Friday’s jobs data and sifted through a flurry of corporate earnings ahead of Amazon’s results.
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