Global markets fall as investors eye Middle East tensions

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.

Global markets fell on Thursday as simmering US-Iran tensions kept investors cautious.

Dublin

Euronext Dublin was largely flat on the day as food ingredients giant, Kerry Group bounced back from recent losses.

The company closed up 4.9 per cent to claw back some of the ground it has lost this week since reporting a dip in revenue and profit last year. “They were under a little bit of pressure and they got some relief,” a trader said.

Ires Reit, the State’s biggest private landlord, finished 0.2 per cent weaker after it reported higher revenues and profits on the back of rising rents last year.

The company reversed a €6.7 million loss in 2024 to deliver a pretax profit of €49.7 million last year, primarily on a €17 million gain in the fair value of its investment properties. Revenues were 0.2 per cent higher at €85.5 million for the 12 months.

Home builder Glenveagh Properties climbed 2 per cent to €2.20, which a trader described as close to an all-time high for the group. Cairn Homes, meanwhile, dipped 0.4 per cent.

Elsewhere, budget airline Ryanair sank 2.1 per cent. “There were a couple of sellers around today, but the airlines were lower across the board,” a trader said.

London

The FTSE 100 dipped from record highs as miner Rio Tinto’s annual earnings missed expectations and its shares fell.

The blue-chip index fell 0.5 per cent after closing at a record high for two straight sessions. The domestically focused mid-cap FTSE 250 was down 0.4 per cent.

Rio Tinto fell 3.6 per cent even as it reported that lower prices at its mainstay iron ore business were offset by a strong performance in its copper division.

Other London-listed miners also fell after copper prices were hit by a firmer dollar, rising inventories and reduced demand because of the extended Lunar new year holiday in China, the world’s biggest metals consumer.

Bord Gáis parent, Centrica fell the most on the FTSE 100, losing 4.7 per cent after it said it was pausing its share buy-backs to invest in its infrastructure portfolio, including nuclear power. Analysts said 2026 guidance “appears weak”.

Mondi shares climbed 1.2 per cent. The packaging group slashed its dividend as it continued to grapple with a “prolonged cyclical downturn” facing the industry.

On the FTSE 250 index, Raspberry Pi retreated 6.9 per cent after making sharp gains earlier this week when a social media post said AI agents, such as OpenClaw, could drive demand for the company’s single-board computers.

Europe

European shares retreated from Wednesday’s record closing high as investors parsed a mixed bag of corporate earnings, particularly Airbus and iron ore producer Rio Tinto.

Airbus said the lack of reliable engine supplies for its A320 family of jets is holding back production and aircraft deliveries, extending the planemaker’s struggles to meet record demand for its bestselling model. The shares shed 6.75 per cent to close on €187.10.

MSCI’s gauge of stocks across the globe fell 0.21 per cent. The pan-European Stoxx 600 index fell 0.62 per cent, while Europe’s broad FTSEurofirst 300 index fell 0.65 per cent.

The Cac 40 in Paris closed down 0.4 per cent, and the Dax 40 in Frankfurt ended 0.9 per cent lower.

New York

Wall Street’s main indices fell, with financials sliding amid a broad sell-off in private equity companies and weakness in some technology stocks, though some earnings-driven gains in industrials helped limit losses.

Private equity companies slid after Blue Owl Capital’s decision to sell $1.4 billion (€1.2 billion) in assets and freeze redemptions at one of its funds to manage debt and return capital.

Apollo Global Management, Ares, KKR & Co and Carlyle Group all fell sharply, while Blue Owl was down 9 per cent.

Shares of Walmart were also down marginally after new CEO, John Furner, kicked off his tenure with a conservative fiscal 2027 forecast as well as a $30 billion buyback plan.

Megacap and growth stocks were mixed, though chip stocks were under pressure with the Philadelphia SE Semiconductor Index down 0.7 per cent. (Additional reporting: Agencies)