A gauge of global equities rose in choppy trading on Monday as investors watched the performance of U.S. Treasuries for signs of inflationary pressures following the Senate’s passage of a stimulus bill. $ 1.9 trillion (1.6 trillion euros).
Euronext Dublin outperformed its international peers on Monday, ending the day up 2.4%.
One of the best performers of the day was Dalata – the state’s largest hotel operator – which added 6 percent to its share on a reasonable volume.
“There was a headline suggesting that the hotel quarantine contract should be awarded to a single hotel group,” noted a trader. “We think that may have been a factor. In addition, in general in the UK and Europe, the travel and leisure industry traded better. “
Travelling, Ryanair was up 6.3%, while its peers also performed well with Easyjet up 4%, parent of Aer Lingus International Airlines Group up 3% and Lufthansa up 5.5%.
It was a good day for the banks too, with AIB up 4.5% and Bank of Ireland up to 5 percent.
The positive sentiment also fueled the construction sector with the building materials group CRH up 4%, insulation specialists Kingspan up 5% and parent Woodies Grafton Group up 5.5%.
CRH has announced that it has relaunched its buyback program which has certainly fueled their momentum today, ”according to a trader.
In residential construction, Houses in Cairn ended the day up 5.2% while Properties of Glenveagh lagging slightly behind, only increasing by 1%.
British stocks ended higher, led by gains in banks and mining stocks, optimism about a faster economic recovery and the easing of a tough lockdown boosted morale.
The blue-chip FTSE 100 index ended up 1.3%, with bank stocks, HSBC, Lloyds Banking, and Barclays gaining between 3.6% and 4.3%.
Mining stocks, including Rio Tinto, Glencore and Anglo American, also boosted the index as metal prices rose.
Among individual movers, Pearson was among the top performers on the FTSE 100, as the education group’s new boss outlined his plan for the business to grow beyond schools and colleges.
Senior rose 7.2 percent, even as the UK aircraft parts supplier suffered an annual loss, hit by Covid-19-related disruptions in air travel.
Shares of banks and automakers pushed up European stocks as investors continued to move towards sectors linked to the economy in hopes of a solid economic rebound from the coronavirus slowdown.
The pan-European Stoxx 600 index rose 2.22 percent, its best one-day performance since early November. The banking sector gained 3.73 percent to a new high in one year.
From Spain Banco de Sabadell jumped 7.1%, while HSBC, Banco Santander and ING Groep increased by more than 2 percent.
Automakers and insurers also rose about 3 percent, while sectors considered as agents such as utilities and personal and household goods were among the laggards. Aircraft engine manufacturer Rolls Royce rose 7.3 percent to hit the top earnings on the UK’s premier FTSE 100.
German meal kit delivery company HelloFresh fell 5% after BNP Paribas downgraded the stock to “underperform”.
The S&P 500 and Dow Jones climbed, led by stocks likely to benefit the most from an economic rebound as the US Senate spent $ 1.9 trillion in Covid-19 relief aid, while stocks heavy technologies oscillated between gains and losses.
The Dow Jones was less than 100 points below its closing high. The materials sector almost hit an all-time high, while industry and finance hit record highs. Only the tech sector was in the red.
Walt disney jumped about 4.5% as California health officials established new rules that would allow Disneyland and other theme parks, stadiums and outdoor entertainment venues to reopen as of April 1.
GameStop jumped about 30% after the company said it hired shareholder Ryan Cohen to lead a transition to an e-commerce business. (Additional reports: agencies)