European stocks closed flat on Thursday as investor reined in speculation over the pace at which the European Central Bank will cut rates over the course of 2024, even if a June reduction is all but certain.Helping offshore energy developers factor the impact on nature into their planning processAIB advanced 0.6 per cent to €5.18, amid hopes that official rates staying higher for longer will underpin income. However, Bank of Ireland dipped 0.9 per cent to €10.
On the brighter side, the aerospace and defence sector gained 2.4 per cent, boosted by Qinetiq Group after it hit a record high on an upgraded financial year outlook.The tech index rose 1.1 per cent, with semiconductor stocks including ASML, Infineon and ASM up after Nvidia forecast quarterly revenue above estimates, announced a stock split and raised its quarterly dividend by 150 per cent on a post-split basis.
Separately, closely watched negotiated pay growth picked up slightly in the first quarter, bolstering the case for caution in cutting interest rates from record highs.
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Source: IrishTimes - 🏆 3. / 98 Read more »