1140 GMT - The recent weakness in AIB Group's shares could partly be attributed to the stake reduction of one of its top shareholders, John Cronin, analyst and founder of SeaPoint Insights, says in a note to subscribers. BlackRock trimmed its holding in the Irish lender to 8.47% from 11.88% on Wednesday, according to regulatory filings. "While one can only speculate as to why BlackRock has been selling, there has been no noteworthy negative company-specific newsflow of late but, clearly, the Irish macro outlook is now in full focus," he writes. The market is struggling to figure out what game the U.S. is playing to reshore pharmaceutical companies and the economic damage this and potential tariffs could inflict on Ireland, Cronin notes. Shares shed 2.8%, extending month-to-date losses to almost 14%. (elena.vardon@wsj.com)

(END) Dow Jones Newswires

March 31, 2025 07:41 ET (11:41 GMT)

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