European stocks gained on Wednesday as investors assessed prospects for an interest-rate cut by the European Central Bank next week and more China stimulus. Wall Street traders gearing up for key inflation data sent stocks within a striking distance of their record highs. It comes as the price of brent crude oil dropped to $76.74 a barrel, down from a high of over $81 a barrel within the last week.The Iseq was up 0.8 per cent on Wednesday, performing in line with peers. Ryanair rose 2.
Among individual stocks, Mondi advanced 4 per cent after the paper and packaging firm agreed to buy Schumacher Packaging’s German, Benelux and UK packaging assets for €634 million , including debt, to expand in western Europe. Continental gained 7.2 per cent after the German automotive supplier forecast profitability in its automotive business to improve in the third quarter.The main stock indexes turned higher in a choppy trading session on Wednesday as investors awaited the minutes of the Federal Reserve’s latest meeting, while Alphabet shares lost ground after the US said it was considering breaking up Google.
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Source: IrishTimes - 🏆 3. / 98 Read more »