Iseq rises but gains subdued by CRH's poor performance

DUBLIN REPORT: Iseq: 2,894.99 (+46

DUBLIN REPORT: Iseq: 2,894.99 (+46.89) Settlement date: July 12th:IT WAS a good day on the Iseq yesterday, with most stocks reporting positive gains in line with their European peers.

However, the gains would have been greater were it not for a poor performance from buildings group CRH. The stock lost 38 cent, or 2.3 per cent, to finish the day down at € 15.70, following a sell-off after its disappointing trading statement on Tuesday.

Elsewhere it was largely positive, with the banks all advancing on the day. Bank of Ireland was the strongest, adding 5 cent, or 6.7 per cent, to finish up at € 0.71. AIB closed up 2 cent, or 2.4 per cent, at € 0.95, while Irish Life & Permanent increased by 3 cent, or 2 per cent, to advance to € 1.58.

Both the airlines finished the day up yesterday, with Aer Lingus particularly strong. It rose by 4 cent, or 5 per cent, to close at € 0.84, while Ryanair added 7 cent, or 1.9 per cent, to advance to € 3.80, on the day it announced reduced services at Dublin airport this winter.

READ MORE

Pharmaceutical firm Elan enjoyed a little bounce of 22 cent, to bring its stock price up to € 4.00, while Paddy Power was another strong performer on the day. It gained € 1.18, to finish the day up at € 26.50.

Glanbia was also very strong on the day, adding 15 cent, to finish at € 3.20, while foods group Aryzta benefited from a positive comment from a German broker. It added 8 cent, to finish at € 32.66.

CC added 8 cent, to advance to € 3.36, although brokers feel the stock has further upside, given the good weather this summer and its typical impact on the drinks market.

There were few stocks in the red yesterday apart from CRH, although Norkom lost 2 cent, or 1.5 per cent, to finish the day down at € 1.30, while Irish Continental Group was also down. It gave up 5 cent, or 0.3 per cent, to finish at € 15.20.

Fiona Reddan

Fiona Reddan

Fiona Reddan is a writer specialising in personal finance and is the Home & Design Editor of The Irish Times