European stocks ended lower in broad-based declines on Monday, closing out June with monthly losses as investors monitored for signs of any progress on US trade talks as the July US tariff deadline looms large.
Dublin
The Irish index of shares ended the day slightly higher, gaining 0.2 per cent by the close of the session.
The gains were led by banking shares, with AIB up 1.2 per cent to €6.98, while Bank of Ireland was 0.46 per cent higher, and Permanent TSB added 2.26 per cent. Insurer FBD was also up on the session, gaining 0.72 per cent.
Travel and leisure stocks also got a bump, with Ryanair shares advancing to €24.02, a rise of 1.26 per cent. Dalata Hotel Group, meanwhile, gained 1.4 per cent to close the day at €6.45.
But the gains were offset by a decline in food groups Glanbia and Kerry, which were off by 4.14 per cent and 0.48 per cent respectively. Insulation specialist Kingspan was also lower, falling 0.6 per cent.
London
The blue-chip FTSE 100 ended lower on Monday as a relief rally driven by easing geopolitical tensions and US tariff concerns fizzled out, while UK’s midcap index logged its largest quarterly gain in nearly five years.
The internationally-focused FTSE 100 lost 0.4 per cent, while notching its second consecutive quarterly gain. The mid-cap FTSE 250 closed down 0.4 per cent on the day while recording a quarterly gain of just over 11 per cent.
Aerospace and defence stocks were up 1.2 per cent, boosted by a 1.4 per cent gain in Rolls-Royce, after the U.S.-UK trade deal came into effect, effectively removing the 10 per cent tariff on aircraft engines and parts.
Among individual stocks, WH Smith fell 3.4 per cent after the company said it would receive less cash than expected from the sale of its UK high street business to Hobbycraft owner Modella Capital.
Pharmaceutical giant GSK was down 1.1 per cent after a US senator said Friday she was launching an investigation into the company’s discontinuation of a widely used asthma inhaler for children.
Gas owner Centrica fell 1.2 per cent after J.P. Morgan downgraded its stock.
Europe
The pan-European STOXX 600 index closed 0.4 per cent lower, clocking a more than 1 per cent decline for the month.
On Monday, heavyweight healthcare were the biggest drags, while miners also lagged with a 1.1 per cent fall.
Germany’s Bayer fell 5.3 per cent after the US Supreme Court asked the Trump administration for its views on the pharmaceutical group’s bid to sharply limit lawsuits claiming its Roundup weedkiller causes cancer and potentially avert billions of dollars in damages.
European renewable energy stocks including Vestas, EDP Renovaveis and Orsted slid as a bill in the US Senate – which includes provisions to phase out solar, wind and energy tax credits by 2028 – progressed further.
European banks slid 0.3 per cent, with Germany’s Deutsche Bank leading declines with a 3.2 per cent fall.
New York
The S&P 500 and Nasdaq edged up to fresh record highs on Monday, as optimism over the U.S. striking trade deals with its key partners fed into a rally that put the main indexes on track for quarterly gains.
The Nasdaq, S&P 500 and Dow Jones have gained 17.5 per cent, 10.3 per cent and 3.4 per cent so far in the quarter, touching and then retreating from record levels since late last year, mainly driven by headlines around President Donald Trump’s rapid policy changes.
At midday the Dow Jones Industrial Average was up 187.64 points, or 0.43 per cent, to 44,006.91, the S&P 500 gained 18.27 points, or 0.29 per cent, to 6,191.34 and the Nasdaq Composite gained 63.36 points, or 0.31 per cent, to 20,336.82.
Shares of Bank of America edged up 0.5 per cent, while rivals JPMorgan Chase and Wells Fargo added 1.7 per cent and 1.5 per cent.
Juniper Networks rose 8.4 per cent after the U.S. Justice Department settled its lawsuit challenging server maker Hewlett Packard Enterprise’s all-cash acquisition of the networking gear maker for $14 billion.
Hewlett Packard Enterprise shares soared 13.4 per cent.
Shares of Oracle rose 4.8 per cent after the company said the new cloud services agreement is expected to contribute more than $30 billion to annual revenue starting in fiscal year 2028. – Additional reporting: Reuters
