Global stocks moved higher on Wednesday as investors awaited the minutes from the US Federal Reserve’s most recent policy meeting and assessed shifting geopolitical developments.
Dublin
Euronext Dublin finished the day down 0.15 per cent as food ingredients giant Kerry Group endured another torrid day with investors.
The company finished down 4.4 per cent on top of a plunge of 6.4 per cent on Tuesday after it reported a dip in revenue and profit last year.
The group, which floated on the stock market in 1986, said revenue dropped 2.5 per cent to €6.8 billion in 2025, while profit after tax fell 10 per cent to €659 million. Its share price is now down nearly 29 per cent in 12 months.
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Another company in food sector, Glanbia, finished the day down 0.7 per cent.
It was a better day for the banks as AIB and Bank of Ireland climbed 2.4 per cent and 1.6 per cent respectively.
Other heavyweights on the index also enjoyed better fortunes, with insulation specialist Kingspan up 1.4 per cent at close of business, while home builders Cairn Homes and Glenveagh Properties soared 4.9 per cent and 2.9 per cent respectively.
London
The FTSE 100 closed at a fresh peak after signs of cooling inflation bolstered expectations of a Bank of England rate cut as soon as March, while miners rallied on surging metal prices.
The blue-chip FTSE 100 ended up 1.2 per cent, marking a record high for a second straight day. The FTSE 250 midcap index added 0.5 per cent to a four-year high.
London-listed miners advanced, with Antofagasta and Anglo American up 10.5 per cent and 4.6 per cent respectively, leading the FTSE 100 as copper prices climbed.
Glencore rose 4.4 per cent after reporting slightly lower annual earnings and announcing shareholder payout.
Defence stocks rose 2.7 per cent, with BAE Systems up 3.9 per cent after reporting a better-than-expected jump in full-year operating profit, as global demand swelled its order backlog.
Vodafone closed 0.9 per cent higher after it said it is selling its 50 per cent share of Dutch business VodafoneZiggo to its joint venture partner Liberty Global, which noted that it is also buying UK-based Substantial Group.
Europe
The Euro Stoxx 600 touched a record high, with defence and banking stocks leading the charge, as investors digested reports of leadership changes and the ECB.
MSCI’s gauge of stocks across the world rose 0.88 per cent, while the pan-European Stoxx 600 index rose 1.16 per cent, and Europe’s broad FTSEurofirst 300 index rose 1.16 per cent.
The Cac 40 in Paris closed 0.8 per cent higher, while the Dax 40 in Frankfurt ended up 1.1 per cent.
New York
The main US indexes advanced as technology shares recovered some lost ground after an AI-led sell-off, while investors awaited minutes from the Federal Reserve’s most recent policy meeting later in the day.
The S&P 500 software and services sector, which saw heavy selling earlier this month, rose 1.4 per cent, boosted by a 9.5 per cent advance in Cadence Design Systems after the chip-design software provider beat fourth-quarter revenue estimates.
Some concerns remained as cybersecurity company Palo Alto Networks dropped 6.3 per cent after trimming its annual profit forecast.
Broader AI-linked and megacap technology stocks had lost ground earlier this month as investors demanded stronger evidence the heavy investments in the technology were tangibly boosting revenue and profits.
Most megacap and growth stocks rose on the day, with Nvidia gaining 2.6 per cent after the company said it had signed a multiyear deal to sell Facebook owner Meta Platforms millions of its current and future AI chips.
Other megacaps also rose. Amazon was up 2.3 per cent, while Alphabet and Microsoft gained about 1 per cent each. (Additional reporting: Agencies)
