11am Markets Update

Updated / Tuesday, 22 May 2018 11:25

Stock markets - the latest movements

European shares managed to touch their highest level since the start of February this morning as cars and bank stocks climbed. 

London's FTSE index ventured further into new territory as it gained six points (0.07%) to stand at 7,865 by 11am, while the Frankfurt DAX inched three points (0.02%) higher to trade at 5,632 and the Paris CAC dipped five points (0.09%) to 5,632 

Dublin's ISEQ index had dipped four points (0.06%) to stand at 7,177 in mid-morning trade. Shares in IFG Group slumped 8% to €1.54, while Paddy Power Betfair was down 1% to €98.75. Aryzta shares lost 1.4% to €17.98 but Abbey shares jumped 4.6% higher to €15.70.

Earlier in Asian trade, Tokyo's Nikkei index lost 42 points (0.2%) to close at 22,960 snapping a three-day winning streak, as investors locked in profits ahead of a series of political events surrounding North Korea.
Markets in Hong Kong are closed today in observance of "The Birthday of the Buddha" national holiday.

Wall Street started the week with a rally last night, sending stocks higher as investors heaved a sigh of relief that Washington and Beijing had decided to step back from a possible trade war.

The good spirits came from the Trump administration's pledge to put its trade dispute with China "on hold" after both sides reached a consensus to reduce the soaring US trade dispute with China - though observers said the details were sketchy. The Dow Jones finished up nearly 300 points, adding 1.2% to close at 25,013, while the broader S&P 500 rose 0.75 to finish at 2,733 and the Nasdaq gained 0.5% to hit 7,394.