Global stock markets reacted to anticipated inflation data and economic uncertainties, showcasing a mixed performance. The Iseq Overall Index in Ireland rose slightly, while the FTSE 100 in the UK dipped, influenced by profit warnings from BP and JD Sports. Wall Street also experienced a decline, with major indexes falling as investors focused on upcoming inflation reports and potential tariff hikes.
Stock markets displayed mixed performance on Tuesday as investors eagerly anticipated inflation data from both the US and UK, scheduled for release on Wednesday. Traders are closely monitoring these figures for any indications regarding the potential continuation of interest rate cuts.The Iseq Overall Index concluded the day with a modest increase of 0.87 percent, settling at a price of 9,605.80.
Despite reporting a 29 percent surge in revenue over the past year, housebuilder Cairn Homes encountered a decline of 2.37 percent, closing at €2.06 per share. The company's results revealed a decrease in the average selling price for homes, dropping from €389,000 in 2023 to €383,000 in the previous year. Glenveagh Properties also experienced a downward trend, falling 1.99 percent to €1.48. Conversely, AIB saw a positive movement, rising 0.81 percent to €5.58, while Bank of Ireland increased by 0.87 percent to €9.06. Dalata Hotels climbed 2.62 percent to €4.70, and Ryanair boosted its value by 2.01 percent, reaching €18.53.Meanwhile, across the pond, the blue-chip FTSE 100 index experienced a slight dip of 0.3 percent, concluding at a two-week low. This downturn was primarily attributed to profit warnings issued by both BP and JD Sports, which exerted downward pressure on the index. In contrast, midcap stocks exhibited a degree of stabilization following a recent slump. JD Sports Fashion plunged 6.8 percent as the sportswear retailer revised its profit forecast downward, citing weaker trading conditions in both Britain and the United States, coupled with intensified promotional activities by competitors that have negatively impacted sales. The domestically-oriented FTSE 250 midcap index responded positively, rising 0.2 percent after touching an eight-month low in the preceding session. Notably, Ocado Group surged 9.5 percent following the announcement that Ocado Retail, a joint venture between Ocado and Marks & Spencer, reported accelerated sales growth during its fourth quarter.UK equities have faced considerable pressure in recent days as investors grapple with concerns regarding the possibility of fewer interest rate cuts by the Federal Reserve and the inflationary policies anticipated under the incoming US presidency of Donald Trump. The pan-European Stoxx 600 index, however, demonstrated resilience, closing the day 0.48 percent higher after experiencing a 1.4 percent decline over the previous two sessions. France's benchmark index, the Cac 40, rose 0.2 percent, while Germany's Dax index advanced 0.69 percent.The energy sector encountered headwinds, declining nearly 1 percent as BP's shares fell 2.5 percent following an announcement that lower refining margins would negatively impact its fourth-quarter profit by an estimated $100 million to $300 million. Turning to Wall Street, the main indexes experienced a downward trend on Tuesday as investors shifted their focus to the forthcoming inflation reports. The Dow Jones Industrial Average shed 0.10 percent, the S&P 500 lost 0.21 percent, and the Nasdaq Composite declined 0.29 percent. Five out of the 11 S&P 500 sectors retreated, with health stocks bearing the brunt of the decline, dropping 1.4 percent. Eli Lilly tumbled 7.1 percent after forecasting fourth-quarter sales of its weight-loss drug Zepbound to fall short of market expectations. Adding to the market's unease was a report suggesting that President-elect Donald Trump's incoming administration was contemplating a gradual increase in tariffs, including a plan to raise import duties by 2 percent to 5 percent each month. Boeing also suffered a setback, with its shares falling 2.7 percent following the revelation that the aircraft manufacturer's annual deliveries in 2024 reached their lowest point since the onset of the COVID-19 pandemic.Wall Street's main indexes have been trending downward since early December, with the price-weighted Dow losing more than 5 percent from its record high achieved last month, and the benchmark S&P 500 hovering close to a two-month low. The Federal Reserve's cautious stance on monetary policy easing this year, coupled with a series of positive economic data releases, has fueled investor concerns that US inflation may be persistently elevated
STOCK MARKET INFLATION INTEREST RATES ECONOMIC DATA GLOBAL MARKETS FTSE 100 DOW JONES NASDAQ
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