Ireland Stock Market Today: 10 Things to Know Before the ISEQ Opens

As Irish investors get ready for Thursday’s session on Euronext Dublin, the backdrop is a rare mix of global relief and local stock‑specific news. A blockbuster earnings beat from Nvidia has lit a fire under tech shares worldwide, European indices are firmly higher, and a cluster of Irish blue‑chip headlines—from Ryanair’s dispute with an online travel agent to fresh buybacks at Kerry and a stake change at AIB—are setting the tone for the ISEQ today. ^[1]

Below is your pre‑market briefing on what matters for the Ireland stock market on 20 November 2025.

1. When and how Ireland is trading today

Euronext Dublin (the former Irish Stock Exchange) is scheduled to trade as normal today, Thursday 20 November 2025, with continuous trading from 08:00 to 16:28 Dublin time. ^[2]

The ISEQ All Share closed around 12,055 on Wednesday, up roughly 1.5% on the day according to TradingEconomics, clawing back part of Tuesday’s sharp sell‑off. ^[3]
By 09:37 this morning, Davy’s live feed showed the ISEQ All Share around 12,146.22, up about 0.76%, suggesting a positive early tone for Irish shares in line with the European rally. ^[4]

Even if you’re treating this as a “before the open” checklist, those early prints give a good indication of sentiment as the session beds in.

2. Global risk mood: Nvidia flips the switch back to “risk on”

The single biggest story for equity markets today is Nvidia’s blow‑out earnings:

Late Wednesday, Nvidia forecast fourth‑quarter revenue well above Wall Street expectations, calming fears that the AI trade was morphing into a bubble. ^[5]
On Wall Street, the S&P 500 finished +0.4%, the Nasdaq Composite +0.6% and the Dow +0.1%, snapping recent losing streaks as tech led the rebound. ^[6]
After the results, S&P 500 and Nasdaq futures were up roughly 1.3% and 1.7% respectively early on Thursday, pointing to another strong session in the US this evening Dublin time. ^[7]

Deutsche Bank strategists quoted in Reuters said Nvidia’s numbers “completely changed the market mood”, and that sentiment shift is exactly what is flowing into European and Irish shares this morning. ^[8]

3. Asia & Europe overnight: rally led by chips and tech

The relief around AI and semiconductors has played out most clearly across Asia and Europe:

Asia
- Japan’s Nikkei 225 closed up about 2.6%.
- South Korea’s main index jumped roughly 1.9%.
- Taiwan’s market rallied about 3.2%, helped by a more than 4% gain in TSMC, the world’s largest contract chipmaker. ^[9]
Europe this morning
- The Stoxx 600 is up around 1.1%.
- Germany’s DAX and France’s CAC 40 are each up about 1.2%, while the UK’s FTSE 100 gains roughly 0.8%. ^[10]
- Tech is leading the move, with names like ASML and other chip‑related stocks outperforming, echoing the Nvidia‑driven surge in sentiment. ^[11]

One quirky but relevant detail for Ireland: Germany’s Nordex is higher after winning an order to supply turbines for the Drumnahough wind farm in Donegal, underscoring continued foreign investment into Ireland’s renewable energy infrastructure. ^[12]

For Irish stocks with global exposure—especially anything tied to semiconductors, tech infrastructure or renewables—this is a very supportive backdrop into today’s trade.

4. Rates, FX and commodities: still a macro market

While equities cheer Nvidia, the macro picture is more nuanced:

US Federal Reserve & jobs data
- Minutes from the Fed’s October meeting showed policymakers warning that cutting rates too quickly could hurt inflation credibility, even as they delivered back‑to‑back quarter‑point cuts. ^[13]
- A delayed US September jobs report is due later today after the 43‑day US government shutdown disrupted the normal release schedule. With the key labour data now landing after the December Fed meeting, markets have sharply reduced the odds of another rate cut at that meeting (Fed funds futures imply roughly a one‑third chance). ^[14]
Currencies & yields (early Thursday)
- The US dollar index is around 100.25, near a six‑month high. ^[15]
- The 10‑year US Treasury yield hovers just above 4.14%. ^[16]
- Davy’s morning snapshot shows EUR/USD near 1.152 and EUR/GBP around 0.882 at 09:37 Dublin time, levels that matter for exporters like Ryanair and Kerry Group. ^[17]
Energy & commodities
- Brent crude trades just below $64 per barrel after a 2% drop on Wednesday, as markets weigh geopolitical risks and evolving sanctions deadlines against Russian oil. ^[18]
- Gold is slightly softer around $4,060/oz as the stronger dollar caps recent gains. ^[19]

For Irish equities, this mix—firm dollar, still‑elevated yields but easing oil—is broadly neutral to mildly positive: funding remains relatively expensive, but input‑cost pressure from energy is not escalating.

5. ISEQ in context: from Tuesday’s slump to Thursday’s bounce

Irish stocks have had a volatile week:

On Tuesday 18 November, the ISEQ All‑Share Index dropped 2.4% to 11,874.97, its weakest level in a month. Banking names led the slide, with AIB down 3.8% to €8.14, Bank of Ireland off 3.1% to €14.89, and insurer FBD lower by 2.1%. ^[20]
Wednesday’s rebound saw the ISEQ climb back to roughly 12,055, a 1.52% gain on the day. ^[21]
Early prices today around 12,146 put the index not far from its recent trading range, still below the 52‑week high north of 12,600 recorded in October but comfortably above the 9,100–9,200 lows seen over the last year. ^[22]

In other words, Irish equities are entering today’s session in recovery mode rather than euphoria—which matters for how price‑sensitive sectors like banks and consumer stocks might trade into the close.

6. Ryanair: legal pressure on Edreams and ongoing buybacks

Low‑cost carrier Ryanair remains one of the most influential names for the Irish market, and there are two strands of fresh news:

Edreams dispute
- On 19 November, Ryanair publicly challenged online travel agent Edreams, accusing it of overcharging customers and failing to meet the airline’s standards on price transparency. ^[23]
- Ryanair says Edreams has scraped its website for years and is building its business on opaque markups. The airline has reportedly offered Edreams free access to its ticket inventory—but only if it adopts the same transparency rules that other major OTAs follow. ^[24]
Why it matters: any successful push to clamp down on opaque pricing could, over time, reinforce Ryanair’s direct‑booking strategy and margins, but legal tussles with intermediaries may create near‑term noise.
Ongoing share buybacks
- A recent 6‑K filing shows that between 10 and 14 November 2025, Ryanair repurchased and cancelled 13,550 ordinary shares as part of its capital‑return programme. ^[25]
Combined with earlier commentary pointing to a record H1 FY2026 and ambitious fleet expansion plans, analysts’ valuation work this month has emphasised Ryanair’s long‑term growth runway, even as competition in European short‑haul remains intense. ^[26]

Expect Ryanair to be sensitive to any moves in oil prices, the euro, and European travel sentiment today, but the stock also has its own idiosyncratic catalysts via legal and capital‑allocation headlines.

7. AIB & Bank of Ireland: banks in focus after stake shift and upgraded growth views

AIB Group (AIBG)

A fresh “Holding in Company” notice filed this morning shows asset manager FIL Limited has reduced its exposure to AIB Group plc, crossing below the 3% notifiable threshold on 18 November 2025. The combined position now stands at about 3.04% of voting rights, split between shares and derivatives. The notification was formally “done at Dublin” on 20 November 2025. ^[27]
Earlier this month, AIB’s Q3 2025 trading update flagged a strong quarter and reiterated that the group is well‑positioned into year‑end. ^[28]
Recent price data put AIB’s shares in the low‑€8 range coming into today’s session after a choppy few days. ^[29]

Takeaway: the slight reduction by FIL is more a technical shareholder‑structure story than a big macro call, but it can still influence short‑term flows in AIB today.

Bank of Ireland (BIRG)

A Bank of Ireland press release on 24 October revised Irish growth forecasts higher, citing a strong pharmaceutical sector and resilient domestic demand. ^[30]
Separately, the bank’s economics team noted in a 5 September weekly that Q2 2025 Irish GDP growth was revised up from –1% to +0.2%, with GDP up about 17% year‑on‑year thanks to surging exports and new pharma capacity, prompting a move of the bank’s full‑year GDP forecast for 2025 into double‑digit growth. ^[31]
On the domestic side, modified domestic demand—a better gauge of underlying Irish activity—has also been upgraded, driven by solid consumer spending, public investment and construction. ^[32]
Today, Bank of Ireland is also in the news via a survey‑based release highlighting that health, job security and home ownership are now the main markers of success for Ireland’s youth. While more sociological than financial, it underscores how housing and labour‑market trends remain central to Irish economic sentiment. ^[33]

Takeaway: the macro story from the banks’ own economists is that Ireland remains one of the euro area’s stronger growth stories, even if multinational‑driven GDP data needs careful interpretation. That macro backdrop supports the fundamental case for Irish financials, though investors will still focus on capital requirements, UK motor‑finance exposures and regulatory issues.

8. Kerry Group & Flutter: consumer names with very different narratives

Kerry Group: steady buyback and solid trading

In the last 48 hours, Kerry Group has reported further progress on its share buyback programme, repurchasing just over 20,000 A ordinary shares on Euronext Dublin as part of a plan to buy back up to €300 million of stock by February 2026. ^[34]
An October trading update highlighted that Kerry’s volume growth is running “well ahead of end markets” with strong margin expansion, underlining its pricing power in ingredients and taste & nutrition businesses. ^[35]

Investors will view today’s incremental buyback activity as confirmation that management sees value in the shares, and it also offers a modest technical tailwind for the stock.

Flutter Entertainment: growth, guidance cuts and prediction markets

On 12 November, Flutter Entertainment (owner of FanDuel) cut its 2025 full‑year profit forecast:
- Core profit (adjusted EBITDA) is now expected around $2.9bn, down from a prior $3.3bn outlook. ^[36]
- The downgrade reflects a long streak of customer‑friendly sports results that boosted payouts and squeezed margins. ^[37]
At the same time, Flutter confirmed it will launch FanDuel Predicts, a new event‑contracts platform, in partnership with CME Group, targeting an emerging market where users can bet on political and economic outcomes as well as other events. The group expects the expansion to reduce core profit by $40–50m in Q4 and up to $300m in 2026 as it invests heavily in growth. ^[38]
Analysts have reacted cautiously: a recent note from Bank of America downgraded Flutter to “Neutral” from “Buy” and cut its price target from $325 to $250, citing margin pressure from taxes, competition and prediction‑market dynamics. ^[39]
Despite that, Flutter’s shares rose about 2.6% on Wednesday, reflecting relief that Q3 EBITDA still beat expectations and that long‑term growth in US sports and event‑based betting remains intact. ^[40]

For the ISEQ, Flutter’s story is a classic “high growth, high regulation” trade—news on US tax proposals, state‑level regulation or prediction‑market rules could be as important as fundamentals in driving the share price today.

9. Macro pulse at home: services PMI, inflation and housing data

Beyond company‑specific headlines, Ireland’s macro data still looks comparatively strong:

The AIB Ireland Services PMI jumped to 56.7 in October from 53.5 in September, its highest reading of 2025. Tech, media and telecoms led the expansion, and business and financial services also accelerated. ^[41]
Overall Irish inflation has hovered around 2.7% in recent months, slightly above the wider euro‑zone average, with services the main driver. ^[42]
The Central Bank of Ireland’s Q2 2025 bulletin projected headline inflation staying just below 2% for 2025, implying that the peak price surge is behind the economy even as wage and service‑sector costs remain elevated. ^[43]

On the data front, the CSO release calendar shows that yesterday (19 November) brought new figures for the Residential Property Price Index (September) and Goods Exports and Imports, both important inputs for investors watching the housing market and Ireland’s export machine. No major headline releases are scheduled for today itself, meaning markets will mostly trade on carry‑over sentiment and global cues rather than fresh domestic statistics. ^[44]

10. What to watch on the ISEQ today

Putting it all together, here’s a quick mental checklist as you look at Irish shares on 20 November 2025:

Overall direction:
- Global risk sentiment is decisively positive thanks to Nvidia’s earnings beat and a broad tech‑led rally in Asia and Europe. ^[45]
- The ISEQ is starting the day firmer after rebounding from Tuesday’s sharp drop.
Banks & financials:
- Watch AIB for any reaction to the FIL stake notification, and Bank of Ireland for how upgraded growth forecasts and youth‑survey PR shape sentiment. ^[46]
Travel & leisure:
- Ryanair is in focus after its high‑profile challenge to Edreams and continued buyback activity; any move in Brent or in euro‑dollar/sterling will also matter. ^[47]
Consumer & gaming:
- Flutter trades at the intersection of US regulation, AI‑driven prediction markets and sports results; short‑term moves may be more about risk appetite than about Ireland specifically. ^[48]
Defensives & ingredients:
- Kerry Group’s buyback and “ahead of the market” volume growth underline its status as a quality defensive play on global food and beverage trends. ^[49]
Macro catalysts:
- Later today, the delayed US jobs report and any further Fed commentary on the rate path could steer global risk assets—and by extension, Irish equities—into the close. ^[50]

Final word (and a quick disclaimer)

For Irish investors, 20 November 2025 starts with tailwinds rather than headwinds: a powerful global tech rally, stabilising oil prices, resilient domestic growth indicators and corporates that are still returning cash to shareholders.

As always, though, this overview is for information purposes only and is not investment advice. Markets can move quickly—especially on days when US macro data and Fed expectations are in flux—so individual investment decisions should be based on your own research, risk tolerance and, where appropriate, professional advice.

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