MARKET REPORT: Irish shares inched lower along with their continental counterparts yesterday amid mixed reaction to comments on the US economy from Federal Reserve chairman Mr Alan Greenspan.
Domestic news was dominated by Grafton's solid first-half results, although volume in the stock was unimpressive. Shares closed 15 cents lower at €7.20, giving back gains posted in the run-up to the numbers.
Kingspan did well as upgrades flowed through from Tuesday's interim numbers. Shares closed at €5.50, up five cents. They fared better in London, climbing by 21.5p to 374p.
Jurys, which also reported on Tuesday, was a weaker performer. The stock fell 10 cents to €10.15 as analysts cut forecasts to reflect lower profits at the firm's Irish four-star properties.
The financials were mostly flat on the day, with Anglo Irish standing out as a star performer.
The bank gained nine cents to close at €14.54 as 2.5 million shares changed hands. Anglo is due to issue a trading update and appoint a new chief executive before the end of the month.
AIB fell two cents to €13.33, while Bank of Ireland dropped four cents to €11.37. Irish Life & Permanent rose five cents to €12.40.
Positive reaction to CRH's results continued to trickle through, with shares adding eight cents to close at €19.41.
Fyffes, which also reported last week, fell victim to some profit taking. The fruit stock declined by six cents to €1.86 on volume of 3.4 million shares.
Activity stepped up at Oglesby & Butler, where 138,000 shares, or 1.3 per cent of the company changed hands. The firm is the subject of an MBO attempt.
Irish Continental was weaker in advance of first-half numbers due today, with shares dropping by 19 cents to €9.56. McInerney, which will also post results today, moved up five cents to €5.90. Another reporting stock, Qualceram, was unchanged at €1.90.
