Market report: The Irish stock market had another relatively lacklustre day as investors looked ahead to a spate of half-year results due next week.
Shares in drink and snacks group C&C rose in anticipation of what is expected to be a positive first-half trading update next Wednesday. They closed six cent, or 1.5 per cent, higher at €4.19.
In contrast, CRH lost ground ahead of next week's interim results, shedding 15 cent to €22.50 although volume in the stock was light with less than one million shares traded.
Jurys Doyle was another of yesterday's losers, shedding 15 cent to €17.50, the level at which the Precinct consortium has indicated it will bid for the company.
The stock slipped after property developer Paddy Kelly denied a report that he was prepared to top Precinct's bid and following rumours that the Reuben brothers, backers of the Precinct approach, might be getting cold feet, a rumour later denied by sources close to the consortium.
"The feeling in the market is that there is a risk that there is not a huge amount of substance behind some of the mooted bids," said one dealer.
In contrast, Waterford Wedgwood had a good day, adding 5 per cent to €0.06 following the company's announcement that chief operating officer Peter Cameron will take over from Redmond Donoghue, who is to retire at the end of the month.
Other movers yesterday included fruit distributor Fyffes, which gained seven cent or 2.8 per cent to €2.55.
In the exploration sector, Dragon Oil was up by more than 10 per cent at one stage, before eventually closing 12 cent, or 6 per cent higher, at €2.09.
The shares were boosted by comments in the Financial Times Lex column that small, London-listed oil companies such as Dragon Oil could benefit from takeover activity in Asia.
Settlement Day: August 26th
