European stocks gains curtailed as Gazprom declares force majeure

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European stocks gains curtailed as Gazprom declares force majeure via IrishTimesBiz

European markets trimmed early gains after Russia’s Gazprom declared force majeure on gas supplies to at least one major customer in Europe, according to a letter from the energy giant.

AIB added 3 per cent to just under €2.15, while Bank of Ireland closed 1 per cent higher at €5.60. Index heavyweight Ryanair nudged up 0.9 per cent to €12.26, while packaging group Smurfit Kappa rose 0.8 per cent to €32.69. It was also a good day for Dalata Hotel Group, which finished up 4.2 per cent at €3.59.

Mining giants Glencore and Rio Tinto rose 2.9 per cent and 3.2 per cent respectively as metal prices rose on Chinese regulators’ measures to avert a potential crisis in the country’s property market and a softer dollar. However, investors remained cautious ahead of earnings this week in Europe amid soaring inflation, slowing economic growth and political uncertainties.Drugmaker GSK’s spin-off Haleon fell 6.

 

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