dragged the ISEQ index of Irish shares lower yesterday, as investors reacted to a trading update that said the airline expected further strikes.

The carrier has been grappling with industrial relations strife at a number of locations around Europe and has been forced to cancel flights.

After-tax profits fell 20pc year-on-year in the airline‘s first financial quarter, despite revenue rising, as increased staffing and fuel costs bit.

The airline lost 6.75pc in Dublin yesterday to finish at €14.50. It was the worst performer, with the index down just over 1pc in closing at 6864.64.

US stock indexes got a boost in afternoon trading from bank shares in an otherwise lacklustre session as investors digested warnings from the world‘s financial leaders about the impact of protectionism on growth.

The S&P 500 Index rose, with financials leading the gainers amid below-average trading volume. But Amazon pulled consumer discretionary stocks lower after US President Donald Trump renewed his public campaign against Jeff Bezos‘s ‘Washington Post‘. West Texas crude oil briefly advanced above $69 after Mr Trump warned his Iranian counterpart not to threaten the US, before retreating to below last week‘s close.

“This week should be a bit more active, given that it will be the busiest week of this earnings season,” Matt Maley, equity strategist at Miller Tabak & Co, said in a note on Monday. “But we still think this lack of activity highlights something that we already know: that growing odds of a trade war, which is now becoming a currency war as well, has made investors much less willing to make definitive investment decisions.”

Irish Independent