Irish market hits positive note as US and Asian holidays slow trading

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.

It was a slow start to the week as the Lunar New Year holiday in Asia ‌and Presidents’ Day in the US made for thin trading.

DUBLIN

The Irish market started the week on a more positive note, shaking off the downward-trending sentiment seen through much of last week.

The Euronext Dublin closed 0.7 per cent higher, finishing at 12,874.9 as positive movements in banking and food shares buoyed the market.

Food groups Glanbia and Kerry got off to a good start, rising 0.3 per cent and 0.5 per cent respectively. Kerry reports its full-year results on Tuesday.

Bank of Ireland gained 1 per cent on its share price, closing the session at €15.80, and AIB added 0.47 per cent. Permanent TSB bucked the positive trend, losing 0.6 per cent.

Airline Ryanair gained almost 2.5 per cent over the day, finishing the session at €27.45.

Construction stocks were mixed, with insulation specialist and index heavyweight Kingspan closing more than 2 per cent off the pace to end the day at €79.65. Home builders Glenveagh and Cairn put in a mixed performance, with the latter down 0.2 per cent and the former up 0.7 per cent.

LONDON

London’s FTSE 100 ended higher on Monday at the start of ​a data-packed week, while Pinewood was the biggest midcap loser after private equity firm Apax withdrew its bid.

The FTSE 100 edged up 0.26 per cent to 10,473.69 points, while the domestically-focused FTSE 250 index ended 0.22 per cent ​lower at 23,375.47 points.

Defence stocks added 2.5 per cent and led sectoral gains after a report that the ⁠British government was considering bringing forward its target to spend 3 per cent of economic ‌output ‌on defence.

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The ​Munich Security Conference over the weekend also highlighted the need for greater military co-operation within Europe at a time when US ⁠policies have upended the ​global world order on security.

Meanwhile, British banks NatWest ​and Barclays added 4.7 per cent and 1.5 per cent, respectively, tracking a broader recovery in European financial stocks.

British ‌banks logged their biggest weekly fall ​since late-March 2025 on Friday, as jitters over artificial intelligence models swept through ⁠global markets.

Pinewood shares fell 32.6 per cent and ⁠logged their ​biggest daily drop since 2007 as Apax axed the $792 million deal it announced in late January, citing challenging market conditions.

Meanwhile, British investment firm Rosebank Industries slipped 2 per cent after saying that it is in advanced talks to buy two private equity-owned US businesses for $3.05 billion.

Shares in SkinBioTherapeutics lost nearly half their value after the British dermatology company said it was investigating its ‌former CEO.

EUROPE

In European equities on Monday, the Stoxx closed marginally higher, adding 0.13 per cent on a day of low volumes amid the US markets’ closure.

Germany’s Dax Index dipped 0.4 per cent on Monday amid similarly light trading. Siemens led the market lower, losing 6.4 per cent, while SAP dipped 2 per cent.

In Paris, meanwhile, the benchmark CAC40 ended the day little changed, adding just 0.06 per cent. L’Oréal was the best performer on the session, rising 3.4 per cent, while Société Générale jumped 2.9 per cent. Defence stocks Thales and Airbus both gained 2.5 per cent after the weekend’s Munich Security Conference did little to shore up confidence in US support for European defence. Still, Dassault Systèmes tumbled another 10 per cent, continuing a precipitous fall since it issued much weaker than expected guidance last week.

NEW YORK

The US markets were closed on Monday for a public holiday.

– Additional reporting: Reuters, PA