European shares closed at a record high on Wednesday, lent significant help from the banking sector. Mining and utilities stocks reached levels not seen since 2008.
DUBLIN
The Iseq All-Share index ended the session down 0.41 per cent to 12,962.20
Glanbia topped the index with a 4 per cent gain. The Kilkenny-based nutrition group posted what it called a “robust performance” in 2025 and expects to post between 7 and 11 per cent earnings per share (eps) growth this year.
A series of analysts upgraded their estimates for the firm, which grew sales 3.5 per cent on a like-for-like basis, driven by expansion in its Optimum Nutrition brand.
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Irish Ferries owner Irish Continental Group went against the tide to book a 2.75 per cent gain to reach €6.72. Airline Ryanair also pitched in with a 1.70 per cent gain.
The strong performances were not enough to keep the index in the green, however. Insulation specialists Kingspan shed 3.19 per cent from its share price, falling to €82.05. Kerry Group booked a 2.62 per cent fall.
LONDON
Britain’s FTSE 100 closed at a fresh peak on Wednesday after HSBC lifted a key earnings target and miners hit new highs, as fading worries over AI’s disruption to traditional businesses lifted global sentiment.
The blue-chip FTSE 100 index closed up 1.18 per cent at 10,806.41 points after being largely unchanged over the past two sessions, while the domestically focused mid-cap FTSE 250 gained 0.5 per cent.
Banking stocks gained on the back of a near 8 per cent gain in HSBC. Shares of the lender hit a record high as it raised a key earnings target after its annual profit exceeded expectations, despite logging a $4.9 billion (€4 billion) one-off charge.
Hiscox rose 5.2 per cent after the insurer announced a $300 million share buyback plan and reported a 5.9 per cent rise in annual insurance contract written premium.
On the flipside, Diageo lost 12.7 per cent and weighed on the index after the beverage maker cut its annual sales and profit forecast for the second time in four months and also slashed its dividend. The broader food and beverages index slipped 2.1 per cent.
Aston Martin fell 2.9 per cent after the luxury carmaker said it will cut its workforce by up to 20 per cent, as it strives to recover from the impact of US import tariffs and weak demand in China.
EUROPE
The pan-European STOXX 600 index ended 0.7 per cent higher at 633.47, eclipsing Friday’s record close of 630.56.
Meanwhile, mining and utilities stocks each hit an all-time high on Wednesday, passing their previous peaks in 2008, the latest sign of a broadening-out of last year’s rally in European stocks.
Onshore wind turbine manufacturer Nordex jumped 17.4 per cent to top the STOXX 600 after reporting better-than-expected core profit for 2025.
Auto1 Group slumped 18.2 per cent after the German second-hand car dealer forecast lower-than-expected earnings before interest, taxes, depreciation and amortisation (ebitda) for 2026.
Shares of E.ON hit a 15-year high after Europe’s largest operator of energy networks said it is raising its spending to €48 billion by 2030 to prepare for data centre buildout across Europe.
NEW YORK
The S&P 500 and the Nasdaq hit two-week highs during trading on Wednesday, boosted by heavyweight technology stocks.
In the midafternoon, in advance of earnings due after markets close, Nvidia was in the green. Investors are seeking evidence that the chipmaker’s profits are growing on the back of Big Tech’s $630 billion capital spending budget for 2026.
[ Big Tech’s ‘breathtaking’ $660bn spending spree reignites AI bubble fearsOpens in new window ]
Chip stocks were broadly mixed, and the Philadelphia SE Semiconductor Index climbed to a record high.
Axon Enterprise climbed more than 20 per cent after the taser maker beat fourth-quarter profit estimates, while Workday fell marginally after the enterprise software maker forecast fiscal 2027 subscription revenue below estimates.
Lowe’s Companies fell as the home improvement retailer forecast annual sales and profit below estimates, while GoDaddy tumbled double digits after the internet services provider forecast annual revenue below Wall Street expectations.
– Additional reporting, Reuters, PA
