US-China fears hit markets as Ryanair weighs in on the iseq index

  • US-China fears hit markets as Ryanair weighs in on the iseq index
    Independent.t. E.
    European markets retreated yesterday as a mixed batch of corporate earnings failed to offset concerns about the U.S.-China trade conflicts and the slow pace of growth in the Eurozone.
    https://www.independent.ie/business/world/uschina-fears-hit-markets-as-ryanair-weighs-on-iseq-37176103.html
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European markets retreated yesterday as a mixed batch of corporate earnings failed to offset concerns about the U.S.-China trade conflicts and the slow pace of growth in the Eurozone.

Caution was also evident in the run-up to the decision of the Federal reserve system, because yesterday, the U.S. Central Bank is expected to keep interest rates unchanged for up to two trips this year.

Basic materials was the worst sector, as copper prices fell after reports that the United States may offer a higher, 25pcs rate on $200 billion of Chinese imports.

Last month, China and the United States imposed tit-for-tat tariffs on $34 billion of goods each other, and another round fares by $16 billion are expected in August. Rio Tinto additional pressure on the sector and the disappointing results sent its shares were down 3.4 PC, despite news of an additional share buyback worth $1bn.

The growth of the plant stuttered around the world in July, reinforcing concerns about the Outlook for the world economy as the revitalization of the trade conflict between the US and China sent tremors through the trading partners.

In Ireland, the iseq overall index slipped 0.24 PC, despite the steadily packing group Smurfit Kappa as Ryanair collapsed.

Its shares rose 3pc Euro 36.14 as the FTSE-100 company announced an increase of 27pc paintball in first-half profit before interest, tax, depreciation and amortization.

Shares in Ryanair sank 4.2 PC to €13.50, as it faces increasing strikes throughout Europe, with pilots in Sweden and Belgium, are now ready to take action.

FBD was a little less than €10.30, despite a solid set of first half results which saw its pre-tax profit soar 55pc to €18.4 m.

In the UK the FTSE-100 fell 1.2 PC. Germany’s DAX was in session 0.53 PC lower, while French CAC-40 lost 0.23 PC.

Earnings drove the lion’s share of traffic on the UK market, with the seller in the following, the power provider aggreko and the Contractor capita is among the most famous. High street retailer next fell to the bottom of the FTSE 100. (Reuters)

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