6pm Markets Update

Updated: Wednesday 26 November 2014 18.21

The dollar has fallen after disappointing US home sales data, but global equity markets edged higher on hopes for more stimulus from the European Central Bank and the prospect that stocks may be a better investment than other alternatives.

In Dublin the ISEQ shed 37 points (0.7%), ending the day on 5,000.

Shares in Aer Lingus were 2.4% higher at €1.70, while shares in Hibernia REIT rose 2.2% to €1.14. Shares in UTV Media were down 4.1% to €2.35, while shares in CPL Resources were 3% lower at €6.50.

In London the FTSE was two points lower at 6,729 by the close of business. In Paris the CAC was nine points (0.2%) lower at 4,373, while the DAX in Frankfurt gained 77 points (0.8%) to finish on 9,924.

Meanwhile in New York, the Dow Jones was down 16 points (0.1%) to 17,799 by early afternoon, while the Nasdaq was trading 19 points (0.4%) higher at 4,778.

Earlier in Asian trade, Tokyo's Nikkei index dipped 24 points (0.14%) to finish at 17,384 while the Hang Seng index in Hong Kong gained 268 points (1.1%) to close at 24,111 with traders still broadly upbeat after last week's surprise Chinese interest rate cut.