6pm Markets Update

Updated: Wednesday 27 August 2014 17.57

US stocks were flat as investors found few reasons to extend a rally that has taken indexes to repeated records, even though market valuations were not seen as unduly stretched.

The Dow Jones industrial average rose 5 points (0.03%) to 17,112. The S&P 500 was unchanged at 2,000 and the Nasdaq added 1 point (0.02%) to 4,572.

In Europe, stock markets steadied after a two week rally on news that German consumer morale fell for the first time in over eighteen months.

In London, the FTSE was up 8 points (0.1%) to 6,831. The Dax in Frankfurt was 18 points (0.2%) lower at 9,570, while in Paris, the CAC was up 2 points (0.05%) at 4,395.

In Dublin, the ISEQ was 29 points (0.6%) higher at 4,790. FBD Insurance was up 42 cent (3%) to €14.72. Ryanair gained 25 cent (3.6%) to €7.19 on news that it was to bid for Cyprus Air. Donegal Investments shed 30 cent (4.7%) to €6.05 while bookmaker Paddy Power was 75 cent (1.5%) lower at €49.81.

Overnight in Asia, markets had a mixed performance.
The Nikkei in Tokyo was only slightly higher at the close of business, gaining 14 points (0.1%) to end on 15,535. The Hang Seng in Hong Kong, meanwhile, was down 156 points (0.6%) to 24,919.