Traders work on the floor of the New York Stock Exchange. The S&P 500 and the Nasdaq hit record highs, powered by semiconductors and megacaps, as Congress heard testimony from Federal Reserve chairman Jerome Powell, who said more “good” economic data would strengthen the case for interest-rate cuts. Photograph: Michael Nagle/Bloomberg
There were mixed fortunes among the financial names as AIB was down 35points while Bank of Ireland climbed 40 basis points.Solving the housing crisis requires new body empowered to clear blockages in systemTurning to the housebuilders, Cairn Homes was down 55 basis points at close of business, while its peer Glenveagh Properties climbed 1.3 per cent.Sentiment started positive in early trading but turned sour throughout the session, as housebuilders and retailers also weakened.
Shares in the oil major fell by 4.3 per cent to 454.25p as a result and put heavy downward pressure on the FTSE 100. It revealed that Andrea Baldo, the former boss of Danish fashion brand Ganni, will take over in the role in September to help drive improved sales despite a challenging backdrop in the sector. Shares lifted by 3.6 per cent to 106.2p.
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