Iseq down 0.6% as Ryanair and Flutter trade lower
Global stocks fluctuated on Thursday after the latest US consumer price index showed a steady moderation in underlying inflation pressures, adding to hopes that the Federal Reserve will opt to keep interest rates unchanged at its next meeting.The Iseq followed up Wednesday’s 0.4 per cent drop with a 0.6 per cent decline, with the index dragged lower by some of its larger constituents.in particular fell by close to 1.8 per cent to €15.
After gaining as much as 0.5 per cent earlier in the day the benchmark Stoxx 50 finished down 0.1 per cent on the session, while the pan-European Stoxx 600 index was up by the same amount.gained 4.1 per cent after the Danish drug-maker said earlier this week it would stop a trial studying Ozempic to treat kidney failure in diabetes patients in advance of schedule because it was clear from an interim analysis that the treatment would succeed.
Industrial metal miners gained 1.7 per cent, while precious metal miners were up 2.0 per cent as prices of metals such as copper and gold rose. Oil majorstumbled 27.2 per cent to the bottom of the midcap index after the transport firm lowered its profit forecast for the year and suspended dividends as it grapples with high costs.The main US indices were little changed despite a jump in US consumer price inflation as rental costs surged.
The so-called core CPI, which excludes food and energy costs, increased 0.3 per cent last month. From a year ago it rose 4.1 per cent, the lowest since 2021.added 0.3 per cent after its quarterly earnings beat analysts’ estimates, but the carrier cut the high end of its outlook for 2023 profit on rising fuel prices and larger-than-expected aircraft maintenance costs.
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