• Macro: US markets weakened again, which saw the S&P500 slide -3.46% and the NASDAQ composite -4.31%. Investors in Europe, which saw its so-called “reciprocal” tariff reduced from 20% to 10%, took a positive view of developments particularly around global ex-US trade coordination potential and rose 3.7%. Later today in the US we get March PPI and the University of Michigan Sentiment survey for April. Central bankers speaking today include Lagarde from the ECB and Kashkari, Musalem and Williams from the Fed.
• Stock: Yesterday, Bank of Ireland announced that it is rolling out c. 650 new ATMs into its 182 whole island of Ireland branch network. (Comment attached)
• Debt: Core bond yields continued to move higher in the US yesterday following Trump’s decision to reduce reciprocal tariffs on most Countries.

• 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:

• We believe the recent weakness in Cairn Homes' share price, which appears to be attributable to concern for Ireland as a hub for multinationals, along with the wider equity market selloff, presents an attractive entry point for investors. OUTPERFORM PT: €2.31.
• Following the recent weakness in the shares of AIB Group as a result of global market turmoil resulting from President Trump’s tariff announcements, we are upgrading AIB to OUTPERFORM from Hold with a price target of €6.50.
• Last week, DCC Plc announced significant leadership changes aimed at aligning its management structure with its strategic focus on the energy sector. We reiterate our OUTPERFORM rating on the stock with PT of £71.40 (c. 50% upside)..