Global stock markets hit record highs following the Federal Reserve's interest rate reduction
The European and US markets saw a positive trend today, with many indices advancing towards record highs.
In London, the personal goods subsector was among the top gainers, up 1.9%, and the mid-cap FTSE 250 added 0.5%. The benchmark FTSE 100 edged 0.7% higher, while the small-cap Russell 2000 index gained 1.5% and was on track for a record close. The pan-European Stoxx 600 moved 0.8% higher.
Notable gains were seen in the tech sector, with the tech-heavy Nasdaq leading the way, moving more than 1% higher. Chipmaker ASML jumped by 7.7%, and Infineon advanced by 3.1%. Nvidia will invest $5 billion in struggling Intel, which surged by 25%.
Meanwhile, the blue-chip Stoxx 50 advanced by 1.7%. Glanbia held on to most of Wednesday's 1.5% gain after the sale of the US arm of SlimFast. Burberry shares advanced 3% in London, and Relx gained 3% after expanding its share buyback programme.
However, not all stocks performed well. Ryanair fell by 2.9% to €23.05 per share due to concerns about disruptions to European flight schedules, amid renewed French air traffic controller strikes. Next fell by more than 3% in London despite reporting a near 14% increase in first-half profit.
In Dublin, the Iseq index underperformed its European peers, shedding 0.6%. SIG Group slid 22%, triggering a trading halt. C&C dropped 4.6% in London after reporting a 4% dip in revenues. Kerry Group and insulation giant Kingspan were essentially flat on the session in Dublin.
Bank of Ireland edged 0.5% higher to €13.30 per share, while AIB improved to €7.55, up 0.8%.
On Wall Street, Larry Ellison led Oracle Corporation as CEO from 1977 until he stepped down in 2014, after which he became chairman of the board and chief technology officer. Oracle, founded originally as Software Development Labs, was renamed after its flagship database product and grew to be a leading software company under Ellison's leadership.
Jupiter Fund Management soared by 12% after brokerage Peel Hunt upgraded its rating to "buy". Micron Technology extended gains into a record-setting 12th consecutive session.
Overall, European and US markets saw a positive trend, with tech stocks leading the way. However, some individual stocks faced challenges, such as Ryanair and Next in London, and SIG Group in Dublin.
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