Dragon Oil and CC gain while Iseq dips almost 1%

Iseq: 2,599.18 (–21.10) Settlement date: October 25thAHEAD OF Sunday's European summit, there was little direction on the Irish market yesterday, with one Dublin broker noting that the Iseq spent a lot of the session "going sideways".

After ebbing and flowing throughout the day, the Iseq closed almost flat at 2,599.18, down by 21.10 points, or 0.8 per cent.

Exploration firm Dragon Oil enjoyed a bounce on the back of its interim statement, in which it showed strong production levels. It advanced by 18 cents, or 3.2 per cent, to climb to €5.69.

There was a little bit of strength in CC, and it came off its lows of the previous day following the departure of chief executive John Dunsmore. It added 7 cents, or 2.4 per cent, to climb to €2.79.

Brokers noted some buying interest coming into Greencore, as it added 1 cent, or 1.7 per cent, to advance to €0.60.

Paddy Power had a good day, rising 57 cents, or 1.4 per cent, to finish at €40.00. Food group Kerry advanced 1 per cent, adding 26 cents to finish at €26.55. Building materials group CRH finished flat. It closed at € 13.44.

Financials were weak on the back of ongoing uncertainty in Europe. IFG lost 5 cents, falling by 4.2 per cent, to € 1.13, while FBD gave up 25 cents, or 3.8 per cent, to close at €6.30.

Kingspan slid, losing 33 cents or 5.3 per cent, to fall back to €5.90. Aryzta was down, losing €1.25, or 3.7 per cent, to end at €32.60.

Following an announcement that the US FDA has extended the review of an application to update prescribing information for multiple sclerosis drug Tysabri, pharmaceutical firm Elan lost 28 cents, or 3.6 per cent, to close at €7.55.

Ryanair had a reasonable day, falling 3 cents, or 1 per cent, to close at €3.20, while Aer Lingus lost 2 cents, or 2.7 per cent, to finish at €0.73.