Dollar jumps as US labour figures rise

The dollar and US government debt yields jumped as data on the strong American labour market report raised expectations that the Federal Reserve will increase interest rates by mid-year. The Irish market rose 0.28 per cent, marginally ahead of the 0.2 per cent advance in European shares generally.

DUBLIN
A trader said sentiment in the Irish Stock Exchange was "a bit weaker overall" in line with the mood in global markets.

Yet Bank of Ireland rose 5.26 per cent to 30 cent, an increase attributed to positive sentiment towards banking stocks in general.

Independent News & Media finished 7.03 per cent stronger at 13.7 cent. A trader said there was "no news" in relation to INM's business itself behind the rise. But he added that investors were increasingly conscious that shares in Australian media group APN, in which INM has an 18.6 per cent stake, have been reaching all-time highs in recent trading.

CRH dropped 0.43 per cent to close at €23.27, posting 9 per cent gain this week even after a €1.6 billion placing to part-fund its mammoth purchase of Lafarge and Holcim assets.

Amid continued uncertainty over the fate of IAG's bid for Aer Lingus, shares in the Irish airline finished 1.78 per cent weaker at €2.21.

It was a good day for food stock Origin, which gained 4.49 per cent to close at €8.44, and for Glanbia, which rose 1.60 per cent to finish at €14.61½. Kerry Group lost 1.12 per cent to finish at €64.39 .

LONDON
Britain's top equity index steadied near five-month highs, with healthcare group GlaxoSmithKline outperforming after positive reports on some Glaxo products. The FTSE 100 index was flat at 6,861.96 points going into the close of the trading session, around its highest level since early September.

GlaxoSmithKline’s shares rose 1.7 percent after the company said a study showed good results for a melanoma drug. Positive US data also helped lift the FTSE 100.

Food ingredients company Tate & Lyle underperformed after it said annual profits would fall short of forecast. The company lost around a tenth of its market value.

The FTSE 100 reached a peak last year of 6,904.86 points, its highest since early 2000, although it lost ground at the end of 2014. The index is up around 4 percent so far in 2015

EUROPE
European stocks touched a seven-year high, recovering early losses after a robust US data pointed to underlying strength in the world's biggest economy.

European shares closed up 0.2 per cent at 1,490.84 points, having touched a seven-year high of 1,492.66. However, investors remained cautious over Greece, where shares in the countries top banks Alpha, Piraeus and National fell 5-12 percent after suffering downgrades in light of a stand-off between the new government and Greece's creditors.

Telecom equipment maker Alcatel-Lucent rose 3.5 per cent, measurement technology and software group Hexagon jumped 7.2 per cent, hitting record highs after posting forecast-beating earnings and an improvement in sales growth. Swiss telecoms company Sunrise made a solid market debut, rising 11.8 per cent above its listing price of 68 Swiss francs.

NEW YORK
The utilities sector, used as a bond proxy by investors in the low-rate environment, lost 2.1 per cent as the worst-performing S&P 500 sector. Financials gained 1.7 per cent.

Twitter jumped 15.8 per cent to $47.77 and LinkedIn surged 14.2 per cent to $271.77.

Action camera maker GoPro Inc tumbled 10 per cent to $48.90.

The Dow Jones industrial average rose 36.18 points to 17,921.06, the S&P 500 gained 7.44 points, or 0.36 per cent, to 2,069.96 and the Nasdaq Composite added 18.89 points, or 0.4 per cent, to 4,783.98. – (Additional reporting Bloomberg)