FTSE 100 Hits Record High as Ryanair Shares Surge on Tel Aviv Flight Halt
Stock markets experienced a mixed day of trading on Tuesday, with the FTSE 100 reaching an all-time high while US markets fell back. Meanwhile, Ryanair's decision not to restart flights to Tel Aviv this winter due to airport slot issues led to a 3.6 per cent climb in its shares.
On the Continent, the Stoxx 600 index rose by 0.2 per cent, with the Cac 40 in Paris and the Dax 40 in Frankfurt also closing up 0.1 per cent and 0.6 per cent respectively. This came despite global concerns about a potential US government shutdown delaying key jobs data.
In the UK, the FTSE 100 ended the quarter strongly, boosted by hopes of a Middle East peace settlement and UK Prime Minister Keir Starmer's commitment to fiscal responsibility. The index reached an all-time high on Tuesday. Back home, Euronext Dublin finished up 1.6 per cent, driven by Ryanair's strong performance and gains in the banking sector. AIB, Bank of Ireland, and PTSB all closed higher, up 0.8 per cent, 1.8 per cent, and 2.7 per cent respectively.
Ryanair's shares climbed 3.6 per cent after the budget airline announced it would not restart low-fare flights to and from Tel Aviv this winter. This decision followed Ben Gurion Airport's refusal to confirm summer 2026 slots or guarantee access to its low-cost terminal. Meanwhile, Rolls-Royce firmed 2.3 per cent after Boeing held exploratory discussions with the UK aerospace firm about potentially providing an engine for a new single-aisle aircraft. This follows reports linking Rolls-Royce with Boeing in London through discussions about developing a new single-aisle aircraft engine system.
Chipmaker Wolfspeed surged 36.3 per cent, a day after exiting bankruptcy. The Cavan-based insulation specialist also finished the day up 1.5 per cent.
In summary, while European markets closed higher on Tuesday, US markets fell back due to weak consumer confidence data and the looming threat of a federal government shutdown. In the UK, the FTSE 100 hit an all-time high, driven by geopolitical hopes and fiscal responsibility commitments. Ryanair's shares climbed after the airline's decision not to restart Tel Aviv flights, while Rolls-Royce firmed following Boeing's engine discussions. Wolfspeed and the Cavan-based insulation specialist also saw significant gains.
