• Macro: It was a mixed session for equity markets yesterday, as the Eurostoxx600 fell modestly, whilst the S&P500 and the Nasdaq were both in the green. Stocks in the US closed at all-time highs despite signals that the Federal Reserve is in no rush to cut interest rates. From an economic standpoint today, we have Ireland CPI released at 11:00 and Eurozone Consumer Confidence at 15:00. In the US, at 13:30 we get the Philadelphia Fed Business Outlook and Initial Jobless Claims, followed by the US Leading Index at 15:00. From Central Banks we have Makhlouf and Nagel from the ECB, as well as Goolsbee, Musalem, Barr and Kugler from the Fed.
• Stock: We have updates on FY24 results from Rio Tinto and IRES REIT. (Comment attached)
• Debt: Core bond yields moved higher yesterday driven by unfavourable UK inflation data along with the anticipated increase in defence expenditure in Europe

• Discretionary Investments: Plenty of market opportunities on offer for investors in the second half of the decade
• Focus Feature: Building and Preserving Intergenerational Wealth
• Analyst Conviction List: Ryanair & GSK
• Corporate Finance: Farra Marine: Driving Offshore Wing Growth
• Asset Management: The Latest on Our Funds
• Performance Data: The Most Recent Figures on Capital Protected Products

Opportunities this week:

• Last Thursday Barclays reported a solid set of earnings for the FY and Q4, following which we updated our target price to 350p from 273p, and upgraded the stock to a Buy from a Hold recommendation.
• Ahead of Glanbia’s FY24 results on the 26th of February, we believe it is opportune to highlight our buy rating and the 36% upside to our €19.40 price target on the stock.
• Following Smurfit Westrock's first set of full year results on Wednesday last week, which were slightly soft but reassuring nonetheless, we are reiterating our BUY rating on the stock, our price target of $59 provides 10% upside.