European shares inch up to fresh high on strong corporate updates

DCM Editorial Summary: This story has been independently rewritten and summarised for DCM readers to highlight key developments relevant to the region. Original reporting by Irish Times, click this post to read the original article.

European shares crept up to a fresh record high on Friday and posted an eighth straight month ​of gains, as better-than-expected corporate updates supported risk appetite despite lingering tariff and AI-disruption concerns.

The pan-European Stoxx 600 index inched 0.1 per cent higher to 633.85, leaving the index 3.4 per cent higher on the month.

DUBLIN

The Iseq All-Share index ended the session down 0.3 per cent at 13,128.54.

Banking shares were lower as investors positioned themselves in advance of full-year results from all three domestic players next week. Bank of Ireland, first up on Monday, lost 1.9 per cent to €16.54, while AIB dipped 0.2 to €8.85. PTSB declined 0.6 per cent to €3.18.

The Irish Times reported on Friday that PTSB is targeting late March for second-round takeover offers, with Austrian banking group Bawag and New York investment firm Centerbridge Partners said to be among parties still circling the State-controlled bank.

Ryanair slid 2.4 per cent to €27.42 amid rising oil prices. The carrier finished last in the annual satisfaction survey of short-haul airlines published by Which? Magazine.

LONDON

London’s FTSE 100 closed at fresh record high – rising 0.6 per cent to 10,910 – boosted by heavyweight miners. However, Irish-based Flutter Entertainment plunged 15 per cent after its full-year earnings and outlook for 2026 disappointed.

Precious-metal miners and industrial-metal miners rose as demand for gold ‌and ‌copper increased, ​with investors flocking to safe-haven assets amid uncertainty over US tariff policies and heightened tensions between the United States and Iran.

Mining stocks have been ⁠among the biggest contributors to the ​FTSE 100’s gains over the past year, ​supported by sustained tightness in commodity markets and firm metals pricing.

British Airways and Aer Lingus owner, IAG beat annual profit expectations. However, shares fell 6.7 per cent along with the broader travel and leisure sector as crude prices gained over 1 per cent.

Barclays fell 4.6 per cent after a report said ⁠the lender faces potential losses related to the collapse of mortgage-finance firm Market Financial Solutions.

EUROPE

Investors took comfort from an overall improving corporate outlook in Europe, with updates from HSBC, Nestlé and Capgemini lifting ⁠sentiment.

Among big movers, Swiss Re shares added 3.7 per cent after the reinsurer posted a better-than-expected rise in net profit of 47 per cent and announced an additional $1 billion (€850 million) share buyback.

German online takeaway food company, Delivery Hero fell 4.4 per cent after reporting annual gross merchandise value slightly below market expectations, reflecting competitive pressure and a challenging economic environment.

On the macro front, French consumer prices rose more than expected in February, after they slowed to their lowest ‌in more than five years in January.

Melrose dropped 12 per cent after the GKN Aerospace owner flagged softer-than-expected revenue for 2026 as sector-wide supply chain constraints ​persist.

German chemicals giant BASF lost 1.9 per cent after flagging that 2026 adjusted operating income could slip or ​rise only slightly amid difficult markets, missing market expectations, which prompted the chemicals giant to step up cost-saving efforts.

NEW YORK

Wall Street’s main indices were lower in early afternoon trading as ‌artificial intelligence (AI) anxiety hammered technology stocks, with the Nasdaq and the S&P 500 on pace for their steepest monthly loss since March 2025. Hotter-than-expected inflation data also weakened sentiment.

Technology shares ​have faced selling pressure this month as concerns over high valuations and the uncertain pay-off from Big Tech’s massive AI spending grew. Nvidia slid again after plunging more than 5 per cent in the previous session despite strong earnings, a sign that risk sentiment for all things AI remained shaky.

Big banks, including Goldman Sachs and private credit firms such as KKR & Co, were among the biggest laggards.

Netflix jumped as investors cheered its decision to exit the fight for Warner Bros Discovery, which dropped. ‌Paramount Skydance rose after ⁠winning the race for some of the world’s most prized TV and film assets.

Dell soared after the PC-maker said it expects revenue from its key AI-optimised servers business to double in fiscal year 2027 and promised ​to return more cash to shareholders. – Additional reporting, Reuters