European indices muted in quiet trading

EUROPEAN stock markets were largely flat yesterday.

With markets still in a post-Christmas Day lull, there was limited news flow to drive activity.

The ‘Financial Times’ reported that banking giant Goldman Sachs is set to move about 20 people from its European Asset Management unit to Dublin.

In the United States, stocks edged higher in late morning trading yesterday, helped by gains in technology and healthcare shares.

“Ever since September, technology stocks have had some momentum left behind them,” said Kim Forrest, senior equity research analyst at Fort Pitt Capital Group in Pittsburgh.

“After a last couple of days – Apple and its suppliers were down and perhaps that was an overreaction – people are buying what they hope to be bargains.”

Oil prices dipped after hitting a near two-and-a-half year high in the previous session as a rally fuelled by supply outages in Libya and the North Sea ran out of momentum.

In Ireland, the ISEQ Overall Index ended the session 0.17pc higher, at 7,027.82.

Shares in Swiss-Irish food group Aryzta rose 2pc to €32.80 in Dublin, while travel software firm Datalex advanced 1.7pc to €2.90.

Decliners included Bulmers maker C&C, which fell 2.6pc to €2.84. Shares in Ryanair fell 1pc to €14.88.

The UK’s FTSE-100 rose 0.37pc. Germany’s DAX was virtually unchanged, while France’s CAC-40 was also barely budged by the end of the session.

Commodities initially boosted European indices during the session. Mining stocks rose after metals prices hit their highest in more than three years highs thanks to a strong growth outlook in China.