SOLID demand for industrial shares together with a distinct shortage of offers of stock, allowed the Irish market trade up to a new all time high. The revived takeover fever in London gave a boost to markets generally, and most of the industrials were still drawing bids at the close.
CRH dealt up 4p to a new high of 559p and was well supported at that level, while Smurfit moved ahead 3p to 157p, despite a weak overnight showing by JS Corp which fell $1/8 to $107/8. Food stocks were again a mixed bag, but Green core was another to hit a new high in after hours trading, rising 6p to 316p. The announcement that Greencore is definitely facing an EU fine had no impact on trading.
Kerry has shaken off the effects of the BSE crisis and closed up 5p to a new high of 560p while IAWS was unchanged on 142p, as was Avonmore on 140p, Golden Vale on 75p and Waterford Foods on 100p.
Elsewhere, Anglo Irish gained 2p to 60p, Arnotts was 8p higher on 343p after its good results while Clondalkin added 5p to 430p. Independent hit another new high with a 7p gain to 507p while Irish Life was 3p higher on 256p. Waterford Wedgwood was unchanged on 65p ahead of next week's full year results.
Gilts improved in afternoon trade although an uncertain tone on the British market meant that Irish gilts under performed international bond markets.
The key influence on the bond and equity market next week will be the US employment figures on Good Friday it was these figures last month that caused a temporary upset in the markets.
