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.
Buyers rushed to the Cavan-based group’s stock in the afternoon sending it above €68 at one point. The shares ended the day 3.68 per cent ahead at €67.55. 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 4.5 per cent, but presented a gloomy economic outlook for the country over the next year. In company news, AstraZeneca, said revenues jumped by almost a fifth in the past year amid strong sales of its cancer treatments. Shares surged by 7 per cent to on Thursday to 11786 pence sterling.It is understood the number of jobs being axed is minimal, but that the group will reduce roles by not replacing workers when they leave.Aer Lingus owner International Consolidate Airlines Group gained 3.3 per cent to 363.4p while EasyJet rose 4.8 per cent to 529.2p on what was a good day for air travel stocks.European stocks hit a record high Thursday, boosted by optimism that corporate earnings remain resilient at a time of rising trade uncertainties with the US.Insulation maker Rockwool surged almost 16 per cent on the Copenhagen market to 2,894 Danish kroner after reporting that 2024 profits rose 40 per cent to €550 million. The news boosted Irish rival Kingspan. 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. Almost 300 shares in the S&P 500 advanced, but the index struggled to gain a whole lot of traction. Qualcomm sank on investor fears that demand for new handsets will stall. Peloton Interactive surged amid a bullish outlook. Philip Morris International jumped to a record on solid sales of Zyn nicotine pouches. Ford Motor Co sank after a profit warning. Eli Lilly & Co’s forecast came in line with estimates. Disappointing figures from major cloud-computing companies Alphabet and Microsoft suggest reasons to be cautious about Amazon Web Services, the biggest player in the industry. – Additional reporting: Bloomberg, RuetersMOST READShock and upset at death of couple in Kerry expressed by former colleagues of ‘brilliant, bright’ Hazel ByrneRestaurant review: This neighbourhood Indian spot has the potential to become a foodie destinationTrump’s Gaza plan: Israeli comments on Ireland ‘provocative’ and a ‘distraction’, says GovernmentAnna Foster makes strong start to Ladies European Tour career in Morocco
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