Dublin Report: Share prices in Dublin made further progress, trading higher despite relatively light trading with many European markets quiet and the British general election distracting investors.
The main news was provided by Fyffes, which delivered good news, informing the market of better-than-expected trading. In a statement, the fruit and vegetable distributor said it was targeting a double-digit increase in adjusted earnings for the year following strong trading through April.
The positive sentiment has prompted earnings upgrades and sent the shares ahead. Fyffes gained seven cent throughout the session to end at €2.30.
Ryanair also brought some cheer with passenger numbers for April showing a 24 per cent increase to 2.6 million. Its load factor was 81 per cent last month.
The figures were ahead of expectations and helped to shrug off some of the impact of rising oil prices on the stock.
Waterford Wedgwood shares ended the day unchanged at five cent, after jumping 37 per cent on Wednesday, following its major restructuring announcement.
Irish Life & Permanent also announced the imminent sale of its City of Westminster closed fund for €70 million. This was a well-flagged disposal and is not expected to change analysts' earnings forecasts for the group.
Irish Life & Permanent shares were stronger in Dublin, gaining 10 cent to €13.20, with the financial stocks all faring well on the day.
AIB added 10 cent to €16.50. Bank of Ireland put in a particularly strong performance, climbing 37 cent to end at €12.45. The bank will issue results next week. Anglo Irish Bank, which brought in good figures on Wednesday, gained further ground to €9.90 up 15 cent.
CRH enjoyed another bounce, rising to €19.90, 22 cent higher.
Elan was also in favour, helped by renewed investor interest in the stock in the hope of a recovery. It added 42 cent to €4.90. Jurys Doyle Hotels also had a good run, with the stock up 40 cent at €12.50.
Settlement Day: May 6th
