Settlement Day - December 30th: Market activity was brisk yesterday, but with most trading related to end-of-year housekeeping, dealers said that "real" business was hard to find. The end result was mildly positive, with the exchange closing up 0.64 per cent on the back of gains among financials.
AIB was the strongest performer of the main players, gaining 20 cents to end at €12.85 as just 1.5 million shares changed hands. About 3.7 million shares were traded in Bank of Ireland, lifting the stock up 14 cents to finish at €9.72.
In other financials, Anglo Irish held up particularly well, adding 32 cents before closing at €6.85, while Irish Life & Permanent continued to claw back some of the last month's losses with a 15-cent rise to €10.30. The stock reached a 2002 low on Wednesday.
Elsewhere, a number of corporates decided to spring major news on the market, with management at Alphyra and Conduit both deciding to reveal details of their MBO offers. Of the two, Alphrya received most reaction, with almost 2.8 million shares traded. The company gained 45 cents before closing at €2.50, above the offer price. Conduit ended up 4.4 per cent at €2.82 in Germany, well below the MBO offer of €3.00.
Independent News and Media became the latest to release a trading statement, signalling that it would meet market expectations for 2002. Shares were unaffected, closing steady at €1.45 as more than two million shares were traded. Ryanair went against the overall trend by losing 10 cents, bringing the company back to €6.90. CRH also ended the day lower, closing down 15 cents at €12.15 after brokers raised questions about management in light of reports of illegal dumping on company land outside Dublin.
