Stocks rose on a report that US president Donald Trump was weighing an end to the war with Iran, although he excoriated allies’ lack of support and the Straits of Hormuz remained closed to most shipping.
Dublin
Traders in Dublin reported “some relief” in the markets on Tuesday as Irish shares rose in line with Europe.
AIB gained almost 4 per cent to close at €9.015 as the first quarter of the year closed while Bank of Ireland added 1.4 per cent to end the day at €15.435.
Airline Ryanair Holdings was flat at €23.87 despite seesawing oil prices. Kerry inched 0.74 per cent up to €68.40.
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Insulation specialist Kingspan dipped 0.83 per cent to €72.10 after trading as high as €74.45 during the day, dealers said.
London
The FTSE 100 continued its strong start to the week on Tuesday amid reports that Donald Trump is prioritising diplomatic efforts over continued military escalation in Iran.
Unilever shares fell 7.3 per cent to 4,199 pence sterling as it confirmed it has agreed to combine its foods business with McCormick & Co, creating a $20 billion (€17 billion) revenue business and accelerating its shift to a pureplay home and personal care group.
The deal will see Unilever, whose brands range from owner of multiple businesses including Hellman’s, Knorr and Vaseline, spin off it foods division and merge it with McCormick in a transaction valuing the business at $44.8 billion.
Analysts questioned why the group was surrendering businesses where it owned 100 per cent to give investors shares in a “sprawling” food group.
Miners supported the FTSE 100 as the price of gold, silver and copper rose.
Antofagasta climbed 5.2 per cent to 3,327p, Fresnillo rose 4.1 per cent to 3,304p, Endeavour Mining advanced 4.25 per cent to 4,460p and Anglo American added 2.8 per cent to 3,179p.
Sports retailer JD Sports rallied 3.8 per cent to 70.66p in advance of key trading partner Nike’s financial third quarter results after the New York market close.
Europe
In European equities on Tuesday, the Cac 40 in Paris closed up 0.6 per cent, while the Dax 40 in Frankfurt rose 0.5 per cent.
Euro zone inflation leapt in March because of surging energy prices caused by the Iran war, official data showed on Tuesday, hitting its highest level since January 2025.
Consumer prices rose by 2.5 per cent in March, sharply up from 1.9 per cent in February, the EU’s statistics agency said, albeit below FXStreet’s consensus which forecast 2.7 per cent.
But annual core inflation – which strips out volatile components such as energy and food – eased slightly to 2.3 per cent in March from 2.4 per cent, while food inflation also declined.
The European Commission urged European Union member states to make “timely and co-ordinated preparations” to secure oil supplies.
New York
Wall Street looked at a possible end to March with gains in stocks and bonds on a news report that US President Donald Trump would be willing to end the war in Iran even with the Strait of Hormuz largely closed. Oil wavered.
The S&P 500 climbed about 1 per cent, recovering some ground after a sell-off that put the gauge on course for its worst month since 2022.
Brent crude, which has soared about 50 per cent since the start of the conflict, hovered near $107 a-barrel, but later rose to $118. US news reports said gas – petrol – had passed $4 a-gallon at the pump.
The Wall Street Journal reported that Trump and his aides assessed that a mission to reopen the Strait of Hormuz would push the war beyond his timeline of four-to-six weeks.
It also said the president resolved that the US should instead focus on crippling Iran’s navy and missile stockpiles, then wind down current hostilities. – Additional reporting: Bloomberg, Reuters, Press Association
