Opening Bell: Markets boom, Snapchat's $24bn, McDonald's deliveries

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The 'Trump Bump' has continued to bring global markets to new highs, the FTSE 100 in London closed at a record level yesterday, as did the Dow Jones.

In Dublin, the ISEQ closed up by 2.4% with shares in the building group CRH registering the biggest gains.

Markets have been on the rise since Mr Trump was elected in the US in November as firms expect a wave of deregulation and tax cuts.

Positive manufacturing data from China added further fuel to yesterday's market surge.


Snapchat’s parent company, Snap Inc, has been valued at $24bn as it sold 200 million shares at $17.

This will be one of 2017’s most closely-watched IPOs - the floatation is the most successful tech offerings since Facebook’s in 2012.

This was above the company’s expected valuation.

It struck a hit with young users with its disappearing messaging function and has grown to become a social network and platform for publishers.


McDonald’s has unveiled plans to draw in more customers by investing in mobile ordering technology and offering delivery services.

The company told investors that it has lost out on 500 million restaurant visits in the US alone in the past four years.

It has partnered with Uber to deliver food in some regions in the US - it’s now bringing deliveries to "major international markets."

"Restaurant delivery is a $100bn market and it’s exploded … There’s significant opportunity that we haven’t even tapped into yet," Lucy Brady, McDonald’s chief strategy officer commented.


Just days out from an all out strike - the dispute at Bus Éireann shows no signs of ending.

The NBRU and SIPTU are due to go on an indefinite strike from Monday - affecting over 100,000 passengers daily.

The Transport Minister Sane Ross has refused to intervene - while a public meeting to discuss the closure of the Dublin-Clonmel route takes place this evening.

It's organised by the NBRU and takes place in the Clonmel Park Hotel at 20:00 this evening.