Budget airline Ryanair gave up some recent gains and finished the day down 1.9 per cent just a day after the airline confirmed it earned €211 million profit in the three months ended December 31st.
Elsewhere, building materials giant CRH was flat on the day, while insulation specialist Kingspan was down 1.7 per cent.UK markets slipped into the red after a stark report from the International Monetary Fund warned Britain will be the only major economy to plunge into recession this year. In company news, Tesco hit the headlines after revealing a shake-up of its stores that could put 2,100 jobs at risk. Separately, the supermarket giant announced it was buying the Paperchase brand after the stationery chain fell into administration. Shares in Tesco dipped by 0.69 per cent at close.
On a busy day for bank results, Switzerland’s UBS Group AG retreated after weakness in its equities and wealth management sales.On Wall Street, US stocks were slightly higher, getting a boost from data that showed labour costs growth in the fourth quarter was the smallest in a year with a 1 per cent increase.