Global stocks rebound following week of steep losses

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Budget airline Ryanair was up 1.5% at close of business in Dublin and tourism and leisure sector enjoys a bounce

Budget airline Ryanair up 1.5% at close of business in Dublin as tourism and leisure sector enjoys a bounce

Among the food names, dairy giant Kerry Group continued its recent good run as it climbed 1.5 per cent, while Glanbia and Greencore each added 1 per cent.Dublin office market shows signs of life - but it is still too early to call a market recovery Bloomberg News reported HSBC was mulling the combination of its commercial and investment banking divisions to eliminate overlapping roles at the lender and cut costs. HSBC shares added 1.9 per cent, while the broader banks index was up 1.7 per cent. HSBC declined to comment.

Meanwhile, British restaurant operator Hostmore plunged more than 90.8 per cent after it dropped plans to buy pub chain TGI Fridays.Stocks on the Continent rebounded from their biggest weekly drop in 18 months as traders’ attention turned to key US inflation data and the European Central Bank’s rates decision this week.

The Cac 40 ended 0.99 per cent higher for the day and the Dax index was up 0.77 per cent at the close.Wall Street’s main stock indexes rose, rebounding from a week of steep losses as focus shifted back to the extent of interest rate cuts by the Federal Reserve.

 

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