Kingspan shares advanced 3.4 per cent to €49.18 as some analysts signalled they will be raising their estimates for the insulation group guided that its trading profit will decline 8 per cent this year to just over €400 million. Davy analysts had pencilled in a figure of €375 million.
NatWest finished 4 per cent lower despite operating profits rising by more than 50 per cent to £1.8 billion for the first three months of the year. Revenues also surpassed expectations for the quarter but investors were left unimpressed by another drop in customer deposits, even if some of that was down to its Ulster Bank unit pushing customers to find new homes for their banking.
Guinness’s parent, Diageo, lost 1.5 per cent after key rival Remy Cointreau delivered a disappointing sales outlook amid weak demand in the US.Swedish real estate group SBB slid 6.7 per cent after the company’s first-quarter net asset value fell 17%.
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