Traders work on the New York Stock Exchange. Wall Street’s main indexes fell ahead of key inflation data later this week that could provide clarity on the extent of the Federal Reserve’s expected interest rate cut, while a fall in the shares of big banks weighed on the markets.
It was a positive day for the food names as well, as Glanbia finished up 4.4 per cent. “They have been weak since publishing numbers the week before last, but rallied into the close,” a trader said. Its peer Kerry Group was up 1.3 per cent at close of business.‘Our elderly mum requires full-time care at home. How much will it cost us and is there any tax relief?’It was a strong day too for housebuilders with Cairn Homes up 5 per cent, while Glenveagh Properties was up 2 per cent.
Oil majors Shell and BP both dragged on the index after Brent crude oil prices sank to their lowest level since 2021. Shopping centre owner Capital & Regional was firmly in the red after a company which had been touted as a potential buyer said it was no longer interested. The pan-European Stoxx 600 index lost 0.54 per cent and MSCI’s gauge of stocks across the globe shed 0.08 per cent.Wall Street’s main indexes fell ahead of key inflation data later this week that could provide clarity on the extent of the Federal Reserve’s expected interest rate cut, while a fall in the shares of big banks weighed on the markets.
The iPhone maker also lost its fight against an order by EU competition regulators to pay €13 billion in back taxes to Ireland.
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