Benchmark oil prices extended gains on Monday, as Wall Street indexes and European shares continued in surprise trading.
Dublin
Euronext Dublin deepened recent losses as it slipped 0.4 per cent, with budget airline Ryanair the standout underperformer as it fell 2.9 per cent to €23.90 a share.
In a generally quiet trading day, banks had mixed fortunes. AIB and Bank of Ireland finished up 1.2 per cent and down 1.1 per cent respectively.
PTSB rose 0.35 percent after it confirmed the names of two major lenders that are in the process of acquiring the bank as part of a sale process announced last year.
Texan-backed Lone Star and a consortium involving New York-based Centerbridge and San Francisco investment firm Sixth Street are “among the participants” in the purchase process, the bank said in a statement Monday morning.
Meanwhile, housebuilders lost ground with Glenveagh Properties and Cairn Homes both slipping 0.5 per cent. Cavan-based insulation specialist Kingspan was up 1.4 per cent in late trading.
London
The FTSE 100 closed up 1.6 percent despite continued strength in oil prices, on renewed hope for a peace deal in the Middle East.
Brent crude was trading as high as $112.46 a barrel on Monday afternoon, up from $111.63 (€98) on Friday. Reflecting rising oil prices, shares in oil majors BP and Shell rose 3.1 percent and 2.0 percent respectively.
The FTSE 250 ended up 0.1 per cent, and the Aim All-Share advanced 0.6 per cent. In the FTSE 250, oil and gas exploration companies Ithaca Energy and Harbor Energy confirmed gains of 2.6 per cent and 2.7 per cent respectively.
In the FTSE 100, Marks & Spencer rose 1.9 percent as Worldpanel data for the 12 weeks to March 1st showed clothing sales growth accelerated to 3.2 percent year-on-year from 1.0 percent in the previous period.
Rio Tinto rose 3.5 percent as it said operations at its iron ore port had resumed. This followed tropical cyclone Narelle passing through the Pilbara region of Western Australia.
Elsewhere, fashion retailer Boohoo rose 2.4 percent as it hailed stronger-than-expected trading. It provided strong guidance for the coming year.
Europe
The pan-European Stoxx 600 index rose 0.58 percent, while the broader European FTSEurofirst 300 index advanced 0.56 percent.
Meanwhile, the Cac 40 in Paris closed up 0.9 percent, while the Dax 40 in Frankfurt ended 1.2 percent higher.
Meanwhile, eurozone bond yields fell from multi-year highs as investors weighed the risks of Iran’s war on inflation and economic growth.
Data showed German inflation rose to 2.8 percent in March as energy prices rose because of the war, although that was in line with economists’ expectations and bond markets reacted mutedly.
New York
Wall Street’s main indexes found themselves in choppy trading on Monday after logging steep declines in the previous session. Investors were encouraged by US president Donald Trump’s comments on US-Iran talks and as the conflict in the Middle East escalated.
The S&P 500 Energy Index added 0.9 percent, while Exxon Mobil and Chevron rose 2.1 percent and 1.3 percent, respectively.
Technology heavyweights in the S&P 500 fell 0.5 percent, led by Apple and Broadcom, offsetting gains in the S&P 500 and Nasdaq. The broader semiconductor index fell to a three-month low, ending at 2.7 percent.
Among other providers, Sysco shares fell 12.4 percent after the food retailer said it would buy food provider Jetro Restaurant Depot in a $29 billion deal, including debt.
Shares in asset managers rose, with Blackstone up 4.4 percent, KKR up 3.7 percent and Apollo Global Management up 3 percent. (Other report: Institutions)
#Oil #prices #rising #global #markets #continue #struggle