Markets rise on rate cut hopes

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Glanbia,Kerry-Group,Aib

Bank of England becomes latest to signal ease in borrowing charges

Markets rose on Thursday as further indications of summer interest rate cuts from the United States and UK buoyed investors.Falls in leading stocks and the banks left the Irish Stock Exchange trailing the rest of Europe on Thursday, dealers said.

Dealers noted that Irish lenders gained ground recently following brokers’ comments that larger European banks could take them over. Harbour Energy, the largest British North Sea oil and gas producer, was the biggest gainer on the FTSE 250, gaining 7.7 per cent to 301.10 pence sterling after it said it expects to generate significantly higher free cash flow next year.3i Group was the biggest faller on the FTSE 100, closing 5.2 per cent down at 2,883p after the multinational private equity and venture capital firm’s annual total return fell.

 

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