On low volumes, the Iseq index was flat on the session after outperforming the big European indices on Wednesday.
Hotel group Dalata, the biggest mover on the session, added 4.4 per cent to close at €3.45 per share. Ryanair gained 1.6 per cent to close €13.28. Shares in ferry operator Irish Continental Group, meanwhile, jumped 2.3 per cent to €4.50. A particular weak spot was Dr Martens, which tumbled 20 per cent and looked set for its biggest percentage drop ever, after warning that its annual core profit margin would be lower than last year.
Lloyds of London, which has gathered momentum since October, added one per cent on Thursday. NatWest’s share price rose 1.7 per cent while shares in Barclays jumped close to 0.8 per cent.Reflecting the generally upbeat mood in equity markets on Thursday, the pan-European Stoxx 600 and the blue-chip Stoxx 50 indices both gained 0.5 and 0.4 per cent respectively.
The real estate sector outperformed, boosted by the prospects of slower rate hikes and analyst upgrades. German real estate group Vonovia led the Stoxx 50 table on Thursday, adding 5.7 per cent. This adds weight to expectations the central bank will raise rates by 50 basis points next month, ending a run of jumbo 75 basis point increases.