US and European indices retreated on Wednesday, as concerns around the timing and scale of the Federal Reserve’s interest rate cuts pushed Treasury yields higher and put stocks under pressure.
Dublin
Performing broadly in line with other European indices, the Iseq fell 1.3 per cent on Wednesday, largely due to a sharp decline in Ryanair’s share price through the session.
The airline shed more than 4.1 per cent to close at €17.20 per share, with losses gaining momentum as the session wore on, traders in Dublin said.
Airlines are in the spotlight at the moment after American Airlines on Tuesday evening cut its share price and margin outlook for the second quarter and announced the departure of its chief commercial officer, Vasu Raja.
Ryanair’s UK peers EasyJet and Aer Lingus owner IAG also slumped in the session, albeit at a slower pace of 1.6 per cent and 2.5 per cent, respectively.
Irish banks, meanwhile, were softer on the day,…
