Global markets gained on Wednesday as technology-related shares rebounded and US private payrolls data was stronger than expected.
Dublin
Euronext Dublin closed up 0.6 per cent slightly outperformed international peers, aided by strong performances from Glanbia and Kingspan.
The top performer on the day was Glanbia, which climbed 5.8 per cent after it upgraded its earnings guidance for the year on the back of stronger-than-expected sales volumes across its performance nutrition business.
In a trading update, the Kilkenny-headquartered food group said revenue for the first nine months of the year increased by 1.7 per cent.
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Another outperformer was Cavan-based insulation specialist as it closed up 2.2 per cent before the final bell. However, homebuilders Glenveagh Properties and Cairn Homes finished down 1.7 per cent and 1.3 per cent respectively.
There were contrasting fortunes for the banks meanwhile, as Bank of Ireland finished the day up 1.3 per cent after more than 50 million shares were traded, while AIB finished down 0.5 per cent and PTSB climbed 1.6 per cent.
Ryanair dipped 0.7 per cent despite financial results on Monday that showed profits rose 42 per cent to €2.54 billion in the six months to the end of September.
London
The FTSE 100 regained its poise, closing up 0.6 per cent, while the FTSE 250 ended 0.5 per cent higher.
Housebuilder Barratt Redrow climbed 0.9 per cent as it reiterated guidance in the face of “challenging market conditions and increased uncertainty ahead of the November Budget”.
Heading downwards were technology investors Polar Capital Technology Trust and Scottish Mortgage Investment Trust which fell 0.4 per cent and 1.6 per cent respectively in the wake of the recent falls in the US.
On the FTSE 250, Ceres Power rocketed 19 per cent higher as it signed a new manufacturing licence agreement with Chinese engine maker Weichai Power, expanding their long-standing partnership.
Also on the right track, Trainline, which climbed 5.3 per cent as it raised its outlook although investors also kept a watchful eye on the government’s railways bill and the possible impact on ticketing operators.
Europe
Euro zone government bond yields ticked higher in a reversal from earlier trading as broader risk sentiment improved following a recent tech-led stocks sell-off, with several positive economic data points hitting screens.
German 10-year Bund yields rose 2.1 basis points to 2.7 per cent. Two-year yields, which are the most sensitive to shifts in inflation expectations and the outlook for monetary policy, were up 1 basis point at 1.998 per cent.
“There has been a complete reversal from this morning, with three key drivers,” said Evelyne Gomez-Liechti, multi-asset strategist at Mizuho International.
In European equities, the Cac 40 in Paris closed up 0.1 per cent, while the Dax 40 in Frankfurt ended 0.4 per cent higher. The pan-European Stoxx 600 index rose 0.38 per cent.
New York
Wall Street’s main indexes inched higher, after a stronger-than-expected private payrolls report and an ongoing court hearing on US tariffs buoyed investor sentiment, while technology stocks steadied following a sharp sell-off.
Energy stocks gained 1.2 per cent. Targa Resources was up 6.2 per cent after beating profit estimates for the third quarter.
Amgen and McDonald’s gained 7.4 per cent and 2.3 per cent, respectively, after their quarterly results, lifting the Dow.
There was little reaction in stocks after democratic socialist Zohran Mamdani was elected as mayor of New York City.
Bank of United States slipped 1.4 per cent even as the second-largest lender in the US raised its profitability target.
Eli Lilly gained 4.8 per cent. The company’s Danish rival Novo Nordisk lowered its fiscal-year profit and sales forecast.
Health insurer Humana slipped almost 8 per cent after its third-quarter results, while Johnson Controls was among the biggest gainers on the S&P 500 after it forecast 2026 profit above expectations. – Additional reporting: Agencies
