PTSB shares surged on Tuesday, ranking among the main advancing stocks in Dublin, as reports from Austria about Vienna-based Bawag’s interest in bidding for the bank bolstered hopes of a competitive second bidding round.
The pan-European Stoxx 600 index rose 0.7 per cent. Brent oil was quoted at $101.95 (€88.38) a barrel at the time of the close of European stock markets, down from $102.83 late on Monday.
Investors’ focus this week will be on interest-rate decisions by the European Central Bank (ECB), US Federal Reserve, Bank of England and Bank of Japan and comments from policymakers on how they intend to navigate potential energy-driven inflationary pressures.
Dublin
The Iseq All-Share index lost 0.7 per cent to 12,252.18, amid thin trading volumes as many local investors enjoyed St Patrick’s Day.
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PTSB surged 2.3 per cent in late trading to €3.11, after Austrian newspaper Die Presse reported that Bawag is ready to bid €1.6 billion for the bank as second-round bids fall due later this month. The Irish Times previously reported that Bawag and private equity firms Centerbridge and Lone Star were circling the company as the sale process enters the final stage.
While a €1.6 billion bid would represent a more than 5 per cent discount to PTSB’s current market value, market observers say that additional reporting of Bawag’s interest is bolstering hopes of a deal going through.
Elsewhere in the sector, AIB added 0.5 per cent to €8.95, while Bank of Ireland dipped 0.9 per cent to €15.34.
Ryanair lost 1.5 per cent to €25.08 as investors monitored the ongoing Gulf crisis.
London
London’s FTSE 100 closed 0.8 per cent higher on the back of gains in energy and heavyweight financials even as the conflict in the Middle East raged on, while investors awaited the Bank of England’s interest rate decision this week.
The energy sector rose 1.8 per cent, trading at a record high. Majors BP and Shell advanced nearly 2 per cent. Heavyweight banks were also in demand.
However, nonbank lender Close Brothers fell 3.5 per cent to the bottom of the mid-cap index after the lender said it will cut 600 roles by fiscal 2027.
Trustpilot jumped 32 per cent after the global online review platform said it had quadrupled its annual profit.
Europe
The ECB is widely expected to leave rates unchanged later this week, but its accompanying statement will be parsed closely for clues on future policy.
Meanwhile, defence stocks, which had rallied over the past three weeks on expectations of higher military spending linked to the Middle East conflict and the Russia-Ukraine war, pulled back on the day.
Among other movers, Springer Nature advanced after the German publisher’s 2026 outlook came in better than expected.
Sartorius Stedim Biotech added 8.9 per cent after the pharma group set new midterm growth targets. Fraport said it expects a slight rise in 2026 earnings, sending the shares of the airport operator almost 6 per cent higher.
New York
Wall Street’s main stock indexes were ahead in early afternoon trading, as investors awaited the Federal Reserve’s decision on interest rates in the face of rising energy costs due to the raging Middle East conflict.
Fuel-cost sensitive airlines and travel stocks that have faced the brunt of the sell-off got some relief after carriers Delta and American raised their revenue guidance for the current quarter.
Energy company Occidental gained along with peers EQT and ConocoPhillips.
Despite the global turmoil in markets due to the war, US stocks have held up better than those in Europe and Asia on expectations that the repercussions on the economy will be less severe.
However, analysts have underscored that investors are yet to fully consider the effects of the war on the global economy.
Eli Lilly lost ground after brokerage HSBC downgraded the drugmaker to reduce from hold. Ride-hailing app Uber rose after announcing plans to roll out robotaxis in 28 cities starting next year, powered by Nvidia’s autonomous driving software. – Additional reporting: Reuters
