5.30pm Markets Update

Updated: Wednesday 20 August 2014 17.52

European shares have dipped, ending a two-day rally, with investors rattled by Carlsberg's warning that profits would fall this year due to deteriorating conditions in Russia.

In Dublin the ISEQ was 38 points (0.8%) lower by the close of business, ending the day on 4,657.

Shares in Dragon Oil rose 5.8% to €7.45, while shares in Datalex were 2.6% higher at €1.59. Share in CRH fell 3.6% to €17.15, meanwhile, with shares in C&C Group down 1.7% to €4.19.

In London the FTSE was also lower at the end of trading, shedding 24 points (0.3%) to finish on 6,755. In Paris the CAC was down 14 points (0.3%) to 4,241, while in Frankfurt the DAX was 20 points (0.2%) lower at 9,314.

Meanwhile in New York, the Dow Jones had gained 29 points (0.2%) by early afternoon to trade at 16,948, with the Nasdaq up just one point to 4,529.

Overnight in Asia, Tokyo's Nikkei index inched five points (0.03%) higher to close at 15,454  as profit-taking erased most of the market's early gains, which were driven by a weakening yen and after upbeat US economic data.

The Hang Seng index in Hong Kong gained 37 points (0.15%) to finish at 25,160.