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5.30pm Markets Update

Stock markets - the latest movements
Stock markets - the latest movements

European stocks gave up earlier gains to close slightly lower this evening.

London's FTSE index closed down 14 points (0.1.5%) to stand at 9,283, the Frankfurt DAX dropped 5.5 points (0.02%) higher to trade at 23,698 and the Paris CAC closed marginally higher up 2 points (0.02%) to reach 7,825.

Dublin's ISEQ index was down 13 points (0.12%) to hit 11,430 at close. Shares in Bank of Ireland and AIB were higher, while shares in Cairn Homes and Glenveagh Properties were marginally lower.

Wall Street's main indexes notched record-high closes last night following gains in Tesla and Micron Technology, while US inflation and jobless data fueled expectations that the Federal Reserve will cut interest rates this month.

The S&P 500 climbed 0.05% to 6,590, while the Nasdaq gained 0.5% to stand at 22,147 and the Dow Jones dropped 0.4% to stand at 45,919.

Earlier in Asian trade, Tokyo's Nikkei index gained 395 points (0.9%) to finish at 44,768 and ended at a closing high for a second session in a row as chip-related stocks tracked Wall Street's strong finish overnight. Hong Kong's Hang Seng index advanced 302 points (1.1%) to close at 26,388 - a four high year - on the back of renewed AI optimism.