Softer jobless claims figures on Thursday set the stage for Friday’s monthly jobs report
Builders and related companies also came under pressure with CRH essentially flat at €48.66 per share, insulation maker Kingspan down just over 1 per cent at €65.10 and housebuilders Cairn Homes and Glenveagh falling 1.7 per cent and nearly 1 per cent to around €1 per share each.
The index is off more than 2 per cent from all-time highs hit last month as investors assess the impact of rising rates. Entrenched inflation and a hawkish Fed have investors pricing in a more than 50 per cent chance that Bank of England rates could reach 5 per cent this year. Meanwhile, shares in insurer Aviva rose 2.7 per cent after it announced a £300 million buyback following a 35 per cent jump in operating profit.European stocks were held back by concerns over higher-for-longer interest rates with the pan-European Stoxx 600 index off by close 0.2 per cent. The blue-chip Stoxx 50 index, meanwhile, was flat on the session, paring back earlier losses.
Elsewhere, Hugo Boss also dropped around 1.7 per cent after its 2023 guidance came in below estimates.
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