Interim results continued to come thick and fast yesterday, with Irish Life and Permanent, Paddy Power and Glanbia taking their turn in the spotlight.
Paddy Power was the most impressive of the three, with a favourable sporting backdrop in the first half allowing for excellent numbers.
The gloss came off the firm's share price as the day progressed however, as three directors and some institutional shareholders moved to place 3.2 million shares, or 6.2 per cent of the company, at €9.70. The stock closed at €9.80, down 20 cents.
Irish Life and Permanent also fell, despite beating expectations with its numbers. Profit taking pushed shares down by 12 cents to €12.40. The firm's broker, Davy, has a price target of €14.25.
The other financials fared better, with dealers reporting international buying interest.
AIB gained 17 cents to close at €13.15, while Bank of Ireland added 23 cents to close at €11.26.
Anglo Irish put in a stellar performance as it added 48 cents to close at €14.18. London broker, Keefe, Bruyette & Woods has set a price target of €20.00 on the bank.
Glanbia added nine cents to reach €2.51 on low volume after reporting a 5 per cent decline in first-half earnings. Analysts at NCB said the company will remain in transition until investments start to pay off in the second half of 2005.
CRH had a great day as investors digested Tuesday's solid numbers and confident outlook. Shares climbed by 59 cents to €19.25. Kerry, which also reported on Tuesday, was unchanged at €17.10.
Independent News & Media had another good day, although volume was a little lower than of late. Shares in the media firm climbed by seven cents to €2.05.
Datalex was busier than most, with 2.5 million shares, or 3.6 per cent of the company, changing hands. The stock added four cents to finish at 45 cents. Fyffes, which reports today along with IFG and Horizon, rose by two cents to €1.84 in expectation of a good first half.
