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Global stocks mark time as Flutter announces share buyback

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AIB and Bank of Ireland slide slightly as Kingspan edges higher

NEW YORK, NEW YORK - SEPTEMBER 13: Traders work on the New York Stock Exchange floor on September 13, 2024, in New York City. Stocks were up over 200 points in morning trading as the market continues to make weekly swings.

From a banking perspective, it was a also a quiet day with AIB marginally dropping by 0.28 per cent to €5.35, Bank of Ireland sliding 0.48 per cent to €10.27 and Permanent TSB up slightly by 0.59 per cent to €1.70. Meanwhile, a new report from the Organisation for Economic Co-operation and Development placed the UK joint-second in its economic growth forecasts for 2024.

Confidence in European stocks is being dented by signs of a weakening economy. That’s making traders increasingly confident the European Central Bank will reduce rates again next month, seeing a roughly 60 per cent chance of a quarter-point reduction in October, up from around 20 per cent last week.Flutter Entertainment Plc, parent of the FanDuel gambling company, announced plans to repurchase as much as $5 billion of its shares over the next few years as the US sports betting market surges.

 

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