Shares in airlines and banks climbed as hopes increased that the US and Iran were nearing an agreement to end the Middle East crisis. European equities reached their highest levels in more than two months, and Dublin’s Iseq 20 closed at its highest level since early February. Ryanair led gains in Dublin after prior uncertainty weighed on the stock, with concerns focused on energy price increases and effects on profitability. Banks also rose, with AIB and Bank of Ireland closing higher. Oil prices fell as expectations improved after a US attack on Iran. Ryanair traded higher late Monday, while IAG and other European airlines also gained.
""There will be lots of upsides in those numbers if the Strait of Hormuz reopens and oil prices settle back," said Mr O'Leary. Oil prices fell 5pc as hopes were raised of progress following the US attack on Iran. Shares in IAG, the group that owns Aer Lingus, British Airways, Iberia and Vueling, were 3.8pc higher near the close of the market in Madrid."
Read at Irish Independent
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