Anglo Irish gains on day of very light trading

DUBLIN REPORT: T'WAS A few days after Christmas and all through the stock exchange not a creature was stirring, not even a bank share...

Traders yesterday described the activity levels on the Dublin exchange as not-existent. Given the woeful year that was in it for investors, the absence of any appetite for an early return to the exchange was understandable.

Anglo Irish Bank shares rose a bit, reaching an 18 per cent increase at one stage of the day, but on very thin volumes indeed.

A total of 3 million shares changed hands, which was paltry considering there are 760 million shares out there. By the end of yesterday the shares were worth €0.17 each, making for a market capitalisation of €129 million. The closing price constituted a 13.33 per cent rise on the day.

AIB shares fell 5.17 per cent, to €1.65, while Bank of Ireland shares fell 2.79 per cent to €0.87.

Independent News Media saw its price end the day down 6.82 per cent at €0.41. Only 34,600 shares changed hands.

One would have thought bananas would be seen as a better investment than property these days but that was not reflected in the share price movements on the Dublin exchange. Blackrock International moved up 6 per cent, ending the day at €0.05, while its sister company Fyffes saw its share price fall 4.4 per cent to €0.25. Again, however, the volumes involved were tiny, particularly in relation to Fyffes.

Kenmare Resources plummeted by 21.8 per cent in value to €0.06. Some 65,000 out of its 795 million shares changed hands.

Smurfit Kappa rose 9.49 per cent to €1.73 on the back of 150,000 share sales.

Poor old neglected Waterford Wedgewood spent another idle day, going neither up nor down, with almost no-one interested in its shares despite their bargain basement €0.001 price tag.

Settlement date: January 2nd