Shares struggle for direction ahead of earnings season

Leaders of France's New Popular Front in Paris on Monday. Reports that the party had not secured enough voted in Sunday's run-off elections soothed investor nerves somewhat in early trading. Photograph: Andre Pain/EPA

Recent studies around projected housing demand within the Republic may also be adding to the positive sentiment around banking stocks. Cairn Homes also continues to attract investor attention, traders said, with shares in the homebuilder advancing by over 2.1 per cent to €1.82 per share while its rival Glenveagh gained 1.4 per cent.Ryanair advanced 2.2 per cent to €17.20 per share, slightly underperforming its UK and European peers amid positive moves for the sector in recent days.

Ocado moved towards the top of the mid-cap index with a 6.3 per cent bounce after the online supermarket boosted its partnership with Japan’s Aeon with plans to build a third robotic warehouse. French luxury stables took a hit with LVMH down 2.8 per cent, matching Gucci owner Kering’s decline. Jameson owner Pernod Ricard also slipped 1.2 per cent.The Nasdaq and the S&P 500 hit record highs on Monday, while the Dow scaled a more than one-month high as investors awaited a key inflation report, Congressional testimony from Federal Reserve chairman Jerome Powell and the start of earnings season this week.

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