5.45pm Markets Update

Updated: Tuesday 27 January 2015 17.57

Renewed concern over Greece and weak results at companies such as Siemens and Philips has put an end to a winning run for European stock markets.

In Dublin the ISEQ ended the day 50 points (0.9%) lower at 5,541.

Shares in Kingspan were 2.9% higher at €15.70, while shares in Aer Lingus gained 2.1% to stand at €2.42 after the airline’s board said it was willing to accept IAG’s takeover proposal to shareholders. Separately shares in Abbey were down 5.4% to €11.12, while shares in Smurfit Kappa fell 3.6% to stand at €21.46.

In London the FTSE was 41 points (0.6%) lower at 6,811 by the end of trading there. In Frankfurt the DAX shed 143 points (1.3%) to close on 10,662, while the CAC in Paris was 51 points (1.1%) lower at 4,624.

Meanwhile in New York, the Dow Jones had dropped 306 points (1.7%) by early afternoon to trade at 17,373, with the Nasdaq down 78 points (1.6%) to 4,694. 

Earlier in Asian trade, Tokyo's Nikkei index gained 300 points (1.7%) to close at 17,768 on hopes that Greece's new anti-austerity government will thrash out a new bailout deal with its international creditors. The Hang Seng index in Hong Kong slipped 103 points (0.4%) to finish at 24,807.