Stocks gain on positive inflation data

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The Iseq was up by slightly more than 0.1% in a volume-light session in Dublin

Paddy Power owner, Flutter, was up 0.5 per cent to €167.65 per share. The other big names moving up the table were CRH, which added more than 0.7 per cent to €46.48, and Ryanair, up more than 0.9 per cent to €14.88. Kingspan, meanwhile, improved by 0.2 per cent to finish the week at €63.04 per share.Both the blue-chip FTSE 100 index and the mid-cap FTSE 250 gained 0.1 per cent, helped higher by tourism and travel stocks.

Consumer, fashion and luxury goods stocks felt the benefit of the latest data, which showed headline inflation plunging to 6.9 per cent in March from 8.5 per cent. Still, traders are betting that an end to the current cycle of increasing rates could be coming to an end with European banks Santander, BBVA and ING all down by between 0.5 per cent and 0.7 per cent on Friday.US equities extended the week’s rally after a key measure of US inflation cooled last month by more than expected, suggesting the Federal Reserve may be close to ending its rate-hiking campaign.

 

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