“We expect another month of discouraging CPI prints,” economists at BNP Paribas wrote in a note.
Cairn Homes and Glenveagh bucked some negative industry sentiment for property internationally both rising. Cairn was up 0.8 per cent while Glenveagh was up 4.5 per cent. Despite rises in oil prices, Ryanair shares were up 1.5 per cent at €15.11. Better-than-expected news regarding the US economy – it added 253,000 jobs in April, powering economy through turmoil, boosted Irish stocks with big US operations including insulation maker Kingspan, which rose by 1.3 per cent to €62.20.
Germany’s Dax index slipped 0.1 per cent, lagging other regional markets in Europe, after data showed German industrial production fell more than expected in March, partly due to a weak performance by the automotive sector. Shares of Catalent tumbled 26.6 per cent as the contract drug manufacturer saw lower revenue and core profit in 2023, while Tyson Foods dropped 15.6 per cent on posting a surprise second-quarter loss and cutting its annual revenue forecast.