DUBLIN REPORT: Iseq: 2,926.26 (+50.94) Settlement date: December 16thA QUIET end to a quiet week is how one trader described yesterday's trading session.
The Iseq ended the week in the black in line with other European markets, which closed higher on the back of better-than-expected US retail sales figures for November.
The Iseq managed to outperform its European peers, however, advancing 1.77 per cent on the day.
Solid advances by construction company CRH and budget airline Ryanair – the two largest constituents on the Iseq – ensured that the Dublin market ended the day in positive territory.
The two main financials were weak on the day in line with the general sell-off in bank shares across Europe this week due to fears about the health of the public finances of some EU countries such as Greece and Spain.
Bank of Ireland shed 2 per cent yesterday, while AIB fell by 3 per cent, although traders noted that AIB saw slightly more investor activity.
Irish Life Permanent bucked the trend, advancing solidly throughout the day to finish 3 per cent higher at €3.25, a gain of 10 cent.
Another stock which saw significant investor interest yesterday was Dragon Oil as a takeover bid by ENOC failed to be passed by shareholders. The stock lost 3 cent on the day to finish at €4.29.
DCC put in a good performance, finishing 4 per cent higher to close at €19.25 on the back of positive half-year results from British music retailer HMV – a customer of DCC’s SerCom division.
Pensions and investments group IFG gained 11 per cent, with the stock continuing to find favour with investors following its announcement earlier in the week that it is to acquire British pensions company James Hay Holdings from Santander Private Banking in a £35 million (€38.5 million) cash deal.
