If you’re preparing for the Ireland stock market “open” on Friday, 26 December 2025, the first thing to know is simple but crucial: Euronext Dublin is closed for St Stephen’s Day / Boxing Day. The next opportunity for Irish equities to trade on the Dublin market is Monday, 29 December, with full trading on 29–30 December and a half-day session on 31 December. 1
That doesn’t mean nothing can move “Irish stocks” on 26 December. Many Irish names have price discovery elsewhere (or are influenced by global markets), and the signals investors get from the US session on Friday can set the tone for Dublin’s return on Monday.
Below is what to watch before the next Irish trading session—and why it matters.
At a glance: what to know before 26 December 2025
- Euronext Dublin is closed on 26 December 2025 (St Stephen’s Day / Boxing Day). 1
- Next Dublin session: Monday, 29 December (full day); 31 December is a half-day. 1
- The ISEQ All-Share was last shown around 13,037 (with very modest daily movement), underscoring how quiet holiday liquidity can be. 2
- Banks and Ryanair dominated Irish market performance in 2025, and they remain the key “swing factors” for the ISEQ’s direction heading into year-end. 3
- US markets are open for a full session on 26 December, even as much of Europe remains shut—so Friday’s US risk appetite can feed directly into Monday’s Dublin open. 4
Is the Irish stock market open on 26 December 2025?
No. Euronext Dublin is closed on Friday, 26 December 2025 for St Stephen’s Day / Boxing Day. 1
Here’s the practical year-end schedule around it:
- Wednesday, 24 December 2025: half-day trading (with Dublin equity instruments closing around 12:28–12:30 Dublin time, depending on the product). 1
- Thursday, 25 December 2025: closed. 1
- Friday, 26 December 2025: closed. 1
- Monday–Tuesday, 29–30 December 2025: full trading days. 1
- Wednesday, 31 December 2025: half-day trading. 1
For investors, the implication is clear: any headline risk that lands on 26 December doesn’t get “digested” by Dublin prices until 29 December, which can create gaps at the open—especially in thin year-end liquidity.
Where Irish shares left off: the year-end setup in one snapshot
Holiday weeks often distort the feel of markets: headlines keep coming, but liquidity vanishes. That’s showing up in the ISEQ All-Share tape, which was last displayed around 13,037 with only fractional movement—exactly the kind of environment where reopening sessions can be jumpy if global risk sentiment changes. 2
Zooming out to the bigger 2025 picture, Irish market leadership has been extremely concentrated:
- The ISEQ 20 has surged strongly in 2025, with banks and Ryanair playing a central role. 3
- Bank of Ireland, AIB and Ryanair sit among the heavyweight names, and the trio alone accounts for nearly 28% of the index, according to Irish market reporting this week. 5
That concentration matters: when Dublin reopens, a small number of stocks can dominate the index move, even if the broader news flow is mixed.
The three biggest Ireland-linked themes to watch heading into Monday’s reopen
1) Irish banks: still the market’s engine—and still headline-sensitive
Irish banks were among the standout winners in 2025, with Bank of Ireland and AIB posting large gains (and Permanent TSB even stronger, helped by corporate-process speculation and positioning). 3
But into the last trading sessions of the year, the key question isn’t “what happened in 2025?”—it’s what risk can still surprise in 2026, and one UK-related story remains prominent:
- Reuters reported in mid-December that the UK motor finance redress plan could end up costing lenders far more than earlier estimates, with industry sources floating £18–20 billion versus the regulator’s earlier estimate around £11 billion—and noting uncertainty around timing and legal challenges. The Reuters piece explicitly lists Bank of Ireland among lenders exposed to the affected market over a multi-year period. 6
- Bank of Ireland itself has previously said it assessed the FCA’s proposed scheme and indicated that, based on proposals “in their current form,” its provision could rise to around £350 million (about €400 million) from an existing £143 million provision (as of mid-2025), though it emphasised consultation outcomes could change the final cost. 7
Why it matters for Dublin’s next open: banks are heavy index weights, and the market tends to re-price them quickly when a regulatory cost story changes—even if the “real numbers” won’t be known for months.
What to watch on 26–29 December:
- Any UK regulator updates or lender statements that shift expectations on scope, timing, or legal risk.
- Broad moves in bond yields (banks often track rate expectations) and risk sentiment in global equities.
2) Ryanair: dominant winner meets a fresh regulatory shock
Ryanair has been one of the year’s headline Irish equity winners, helped by earnings resilience and substantial buyback activity. 5
This week, however, brought a major reputational and regulatory headline:
- Italy’s competition regulator fined Ryanair more than €255 million over allegations of abusing a dominant position in dealings with travel agencies, citing practices that made it harder for agencies to sell Ryanair flights alongside other services. Ryanair criticised the decision and said it would appeal. 8
Why it matters for Dublin’s next open:
- Even if the final financial impact takes time, fines of this size can change the risk premium investors demand—especially when a stock has already had a strong run.
- This isn’t only a “one-country” headline: it touches broader questions about how airlines distribute inventory and manage third-party sellers, which can attract follow-on scrutiny.
What to watch:
- Any signals on appeal timing, potential remedies, or whether similar scrutiny emerges elsewhere.
- Oil prices and consumer confidence signals—because “macro” can still trump stock-specific news for airlines into year-end.
3) Construction and building materials: big 2025 gains, but valuation nerves are rising
Construction-related equities across Europe have been strong in 2025, but the tone is starting to shift from celebration to selectivity:
- Reuters noted that European construction stocks have run to record levels, supported by themes like infrastructure stimulus and lower rates, but also flagged that valuations look rich and that some strategists expect more “proof” (contracts, awards, real spending flow-through) before the rally can extend. 9
- The same Reuters analysis pointed out that Morgan Stanley shifted its preference away from CRH as its top pick (while still seeing it exposed to supportive themes). 9
Meanwhile, CRH continues to execute shareholder returns:
- CRH disclosed another “transaction in own shares” update this week tied to its ongoing buyback activity. 10
Why it matters for Irish investors:
- Building materials and construction-linked stocks can be sensitive to rates, housing expectations, and infrastructure headlines.
- Into a low-liquidity year-end tape, “sector rotation” (even small) can hit indices via heavyweight constituents.
Kerry, housing and renewables: the secondary drivers that can still move the index
While banks and Ryanair often dominate the conversation, several other Irish-listed names matter for how the ISEQ trades when it returns.
Kerry Group: consensus expectations are now a key reference point
Kerry has been more mixed versus the year’s high-flyers, and investors increasingly focus on what “normalised” earnings power looks like into 2026.
Kerry’s own published analyst consensus (updated 18 December 2025) shows:
- 2025 adjusted EPS consensus: 483.4 cent (with a high/low range shown and contributions from multiple brokers)
- Broker ratings: 10 Buy, 7 Hold, 0 Sell (as presented on Kerry’s investor site) 11
Those numbers matter because they become the yardstick for any January updates: if guidance or trading commentary implies outcomes above or below that range, repricing can be swift.
Housing exposure: rates and sentiment still matter for Irish domestics
Irish housing-linked names can move sharply on changes in rate expectations and domestic confidence. With 2025 ending amid global rate-cut speculation, this remains a key “sleeper” theme into the first trading days of 2026.
Renewables and yield-sensitive stocks: watch rates first, headlines second
Yield-sensitive names often trade more like “duration assets.” When Dublin reopens, if global yields gap higher or lower, these stocks can react even without company-specific news.
Global markets on 26 December: why the US session matters even more than usual
Because Dublin and many European exchanges are closed on 26 December, the most important real-time signal for Irish investors is likely to be the US session.
Two reasons:
- US equities ended Christmas Eve at record levels, with the S&P 500 and Dow closing at all-time highs in a shortened session—typical of a late-December “risk-on” tone. 12
- US exchanges are open for a full trading day on 26 December, and Reuters reported this remains the case even amid US federal office closures, with major exchanges sticking to their published schedules. 4
Other global cues from Reuters’ Christmas Eve market wrap that Irish investors often track:
- US Treasury yields eased, with the 10-year yield around 4.136% and the 2-year around 3.51% in the report. 12
- The dollar index was near 98, with the euro around $1.1773 at the time of reporting—relevant for euro-based investors holding global exposures. 12
- Oil prices were relatively subdued, with US crude near $58 and Brent near $62 in the same wrap—important for transport and broader inflation expectations. 12
Data calendar: expect “flows over fundamentals” on Friday
If you’re looking for big macro catalysts on Friday, you may not find them:
- MarketWatch’s US economic calendar showed no major US economic reports scheduled for Friday, 26 December. 13
That typically increases the odds that price action is driven by:
- Year-end positioning and rebalancing
- Liquidity effects
- Headlines (company-specific, geopolitical, regulatory)
What to watch before Dublin reopens on Monday, 29 December
Here’s a practical checklist for investors focused on Ireland stocks and the ISEQ 20/All-Share setup:
- US equity risk appetite on Friday (26 Dec): a strong or weak US session can shape the tone for Europe’s next open—especially when Europe has been closed and can’t “respond” in real time. 4
- Rates and the euro: Irish financials are sensitive to rate expectations, while many Irish investors benchmark global returns in euro. 12
- Ryanair headline follow-through: watch for any additional commentary or procedural steps after Italy’s fine and Ryanair’s stated intent to appeal. 8
- UK motor finance developments: any change in the narrative around timing, scope, and likely legal outcomes can flow into Bank of Ireland sentiment. 6
- Construction/building rotation: if global strategists push the “valuation reality check” narrative further, it can influence sentiment toward building materials exposure going into 2026. 9
- Expect low liquidity: reopening after holidays can magnify early moves—particularly in index heavyweights. 14
Bottom line
There’s no Ireland stock market open on 26 December 2025—Euronext Dublin is shut for St Stephen’s Day / Boxing Day. 1
But Friday still matters: US markets are open, and any meaningful moves in global equities, yields, or major Ireland-linked headlines (especially around Ryanair and Irish banks) can set up a gap when Dublin reopens on Monday, 29 December. 4
