European stocks marked their first weekly loss in eight on Friday as a surge in global coronavirus cases offset optimism about a strong earnings season, while Madrid-based Allfunds jumped on its Amsterdam market debut.
Investor sentiment was hit following reports on Thursday that US president Joe Biden planned to raise income taxes on the wealthy, a proposal some said would be hard to pass in Congress. Wall Street, however, edged upwards.
Dublin
The Iseq closed up 0.65 per cent, outperforming the major European indices thanks to modest gains for key stocks. Ryanair, which warned that it would reduce its Irish capacity and relocate aircraft to other countries without a Government reopening plan, rose 0.35 per cent to €15.90.
Packaging company Smurfit Kappa rose 1.2 per cent to €40.90, while Kerry was another solid performer, with the food group adding 0.9 per cent to close at €109.35. Bank stocks were also in positive territory, with AIB nudging up 0.4 per cent to just below €2.36 and Bank of Ireland closing up 0.85 per cent at €4.38.
Building materials group CRH slipped 0.1 per cent to €39.45, however, while Glanbia fell 0.7 per cent to €12.51 and Cairn Homes finished about 0.6 per cent lower at 1.09.
London
The FTSE 100 and the mid-cap FTSE 250 index both closed flat, as concerns about the rising levels of coronavirus in India offset positive economic data in Europe.
Flutter Entertainment, owner of Paddy Power, was one of the big climbers on the London market, rising 2.6 per cent, though Aer Lingus owner International Consolidated Airlines Group (IAG) was one of the biggest…