Global stocks fall following drop in US consumer confidence

AIB saw its shares fall 3% in Dublin after the Government successfully placed a 5% stake in the bank on the stock market on MondayAIB finished the day down 3 per cent after the Government successfully placed a 5 per cent stake on the stock market after Dublin trading closed on MondayStocks on global indices were lower on Tuesday following a drop in June US consumer confidence, while oil prices gained for a third day.Euronext Dublin was dragged down 1.

The share sale raised €304.8 million, with the shares on offer priced at €2.28 each – representing a 6.5 per cent discount to Monday’s closing price. The banks generally benefited from data which showed mortgage approval activity increased in volume terms by 14.3 per cent year on year and in value terms by 25.3 per cent over the same period., the fuel distribution-to-technology services group, was up more than 2 per cent, while low budget airlinewas down 2.5 per cent.Commodity and defence firms led the gains as the FTSE 100 pushed higher for the third consecutive day.

The FTSE 100 ended the day up 65.09 points, or 0.9 per cent. Sentiment was supported by China’s decision to reduce the length of mandatory quarantine for inbound travellers, in the biggest relaxation so far in its zero Covid policy.

Sterling made slight gains as the dollar stalled due to the unsettled economic backdrop. The pound was up 0.03 per cent against the dollar at 1.220 and was down 0.13 per cent against the euro at 1.158.

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State’s AIB stake falls to 63.5% after €304.8m share placingThe shares on offer priced at €2.28 each – representing a 6.5 per cent discount to Monday’s closing price.
Source: IrishTimesBiz - 🏆 6. / 77 Read more »

State further reduces its stake in AIB to 63.5%The sale, which was first announced by Finance Minister Paschal Donohoe yesterday, brings the State's shareholding in AIB to about 63.5% from 68.5%. rtenews That’s it, it’s time for the workers to rise up. The banks have taken everything from us, especially the trans workers of colour among us, but no more… rtenews State owns two thirds yet.. Doesn't insist pay tax on profits? Allows loans to fund buying residential property to let? Doesn't alter lending criteria to help more people buy? Doesn't give short mortgages to over 50's? Doesn't use ownership for public good!
Source: RTEbusiness - 🏆 16. / 61 Read more »

State to sell further 5 per cent of its AIB shareholdingOverall size of the State’s shareholding in AIB will be reduced from 68.5 per cent to 63.5 per cent Can we assume the money made on this sale will be put back in to the depleted pension fund where the money that saved the bank came from, rather than in to Paschals pocket so he can use it for more sweetheart deals?
Source: businessposthq - 🏆 8. / 71 Read more »

Donohoe announces sale of additional 5% stake in AIBDonohoe announces sale of additional 5% stake in AIB via IrishTimesBiz Selling off more silverware,
Source: IrishTimesBiz - 🏆 6. / 77 Read more »

Cork-based Workvivo raises $22m in new fundingCompany’s valuation triples following series B funding led by Tiger Global, taaffems reports.
Source: businessposthq - 🏆 8. / 71 Read more »

One third of households 'just making ends meet'As cost of living pressures intensify, Bank of Ireland's latest Pulse Survey reveals that one third of households now say they are 'just making ends meet', up from a quarter at the start of the year.
Source: RTEbusiness - 🏆 16. / 61 Read more »