Brexit doubts drag European shares down

• Date: 19 December 2020
• Published date: 19 December 2020
• Author: Ciara O'Brien

DUBLIN The Irish index of shares ended the session flat, closing the day at 7,423.99.

Bank shares dipped, with Bank of Ireland losing 0.85 per cent to close at €3.27, and AIB closing almost half a per cent lower at €1.68.

Ryanair advanced to €16.30, while shares in building group CRH rose to €34.75, a 2.36 per cent gain over Thursday's closing price

Kerry Group climbed 2.2 per cent higher to €120.80. The company is said to be reviewing its ownership of Kerry Foods, which sells chilled meat and dairy products. Sources said the group could pursue a sale or spin-off of part or all of the business next year if it decides to proceed.

Hotel group Dalata saw shares dip 0.66 per cent to €3.76.

LONDON British mid-caps eased

yesterday from a 10-month high on profit-taking as the clock ticked down towards the end of Britain's transition period for leaving the European Union with a trade deal still not secured.

The domestically focused FTSE 250, considered a barometer for Brexit sentiment, dropped about 0.9 per cent, but finished the last full week of the year up 2.5 per cent. Autos, real estate and banking stocks posted some of the steepest percentage losses.

The European Union said there were just hours left to strike a trade deal, while Britain called on the bloc to see sense as the two sides race to prevent a turbulent finale to the Brexit crisis at the end of the month.

Uncertainty over a post-Brexit deal pushed the exporter-heavy FTSE 100 down 0.3 per cent as US stocks dipped on a cooling fiscal stimulus-led rally.

In company news, Frankie and Benny's owner the Restaurant Group shed about 6 per cent after it warned of a tough first quarter.

Fashion retailer Next dropped 2 per cent as a report said it was in talks with US investment firm Davidson Kempner Capital Management for a joint bid to gain control of Arcadia fashion group.

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