Friday, September 06 17:35:09
The ISEQ closed the week a tad higher as global markets digested weak US jobs data but saw more evidence of a strengthening global recovery.
The index was up 9.45 points to 4,225.38.
European shares were slightly higher late on Friday, wiping out most gains spurred by a weaker-than-expected U.S. jobs report, as concerns over Russia's support for Syria in the event of an attack unnerved investors.
In a volatile session, the FTSEurofirst 300 dropped by as 0.4 percent after Bloomberg reported that Russia would "assist" Syria in the case of an external attack. The index pared losses when Reuters clarified that Russia would "maintain current support" if Syria was attacked. At the same time as ECB President Mario Draghi was attempting to reassure the markets that it had an easing bias and that rate rises were a long way off, Chancellor Merkel spooked markets by talking about the need to adjust relatively loose monetary policy step by step. "Talk of monetary policy is usually the sole responsibility of the central bankers in the euro area, but with an election just over two weeks ago, Merkel is clearly trying to reassure certain segments of the German electorate," said Goodbbody Stockbrokers.
Paddy Power shares fell 8c to E60.63. Bwin.Party has this morning announced that it launched its new partypoker.com product (it launched yesterday). The product was to be launched in August but was delayed and management stated at its results presentation last week that it would be launched within two weeks. The new product is now available on Mac and PC and no download versions, while there are mobile versions on iOS and Android. Later phases will include more desktop features on mobile.