The Iseq index of Irish shares finished up slightly today, as gains for the index's heavy-hitters CRH, Ryanair and Kerry helped the Dublin stock market outperform its European counterparts.
Stock markets across Europe fell back amid concern that mounting sovereign debts may derail the economic recovery even with the agreement of an aid plan for deficit-laden Greece. Today's losses trimmed back what was the fourth consecutive week of gains for European stocks.
A near 1 per cent climb in the share price of building materials group CRH - which closed up 16 cent at €18.99 - helped the Iseq buck the trend.
There was high trading volume in Independent News & Media one day after it announced the disposal of its London Independent titles, a move that is expected to be earnings enhancing. It finished down 5 per cent, but this represented just a fraction of a cent in nominal terms.
In what was a topsy-turvy week for the share prices of financial stocks, the banks fell back. AIB closed down 5.2 per cent at €1.69 and Bank of Ireland finished down by almost the same percentage at €1.39, just a few days ahead of expected announcements related to the National Asset Management Agency (Nama).
However, the positive sentiment towards the airline sector was sustained in the trading session, with Aer Lingus climbing 3.7 per cent to 69 cent and Ryanair advancing 2.2 per cent to €3.69.
Although analysts at Davy reduced their earnings forecasts for Greencore as a result of the sale of its malt division, the stock rose 2.6 per cent on the day, closing at €1.38.
Agri-food company Origin was a strong performer, rising 6.6 per cent to €2.40. This was the highest climber of the day.
Sticking with the food sector, Kerry rose 0.8 per cent to close at €23.33, up 19 cent, on a day when two of its peers in global food sector reported mixed quarterly results.
