AIB saw its shares fall 3% in Dublin after the Government successfully placed a 5% stake in the bank on the stock market on MondayAIB finished the day down 3 per cent after the Government successfully placed a 5 per cent stake on the stock market after Dublin trading closed on MondayStocks on global indices were lower on Tuesday following a drop in June US consumer confidence, while oil prices gained for a third day.Euronext Dublin was dragged down 1.
The share sale raised €304.8 million, with the shares on offer priced at €2.28 each – representing a 6.5 per cent discount to Monday’s closing price. The banks generally benefited from data which showed mortgage approval activity increased in volume terms by 14.3 per cent year on year and in value terms by 25.3 per cent over the same period., the fuel distribution-to-technology services group, was up more than 2 per cent, while low budget airlinewas down 2.5 per cent.Commodity and defence firms led the gains as the FTSE 100 pushed higher for the third consecutive day.
The FTSE 100 ended the day up 65.09 points, or 0.9 per cent. Sentiment was supported by China’s decision to reduce the length of mandatory quarantine for inbound travellers, in the biggest relaxation so far in its zero Covid policy.
Sterling made slight gains as the dollar stalled due to the unsettled economic backdrop. The pound was up 0.03 per cent against the dollar at 1.220 and was down 0.13 per cent against the euro at 1.158.