Iseq finishes up 1.3% in light trading session

Iseq:2,549.24 (+28.80) Settlement date:August 18th

AFTER A period of sustained turbulence, it was all quiet on European markets yesterday and the Iseq was no exception.

With many European countries on holiday, markets were quiet and the news flow light. Buoyed by positive performances from CRH and Ryanair, the Iseq closed up by 32.99 points, or 1.3 per cent, out-performing its British, French and German peers.

CRH rose strongly in early trading, adding 2.3 per cent, but it lost some of its momentum in the afternoon.

It finished the day up by seven cents, or 0.5 per cent, at €12.16, as investors hung back ahead of its results today.

Ryanair was also in positive territory adding four cents, or 1.3 per cent, to advance to €3.09.

Smurfit Kappa was one of the best performers following an upgrade from Bank of America. It added 36 cents, or 6.7 per cent, to €5.76 as “value hunters” moved into the stock according to one Dublin broker.

Also strong was Independent News & Media, which advanced by 9.3 per cent, or three cents, to close up at €0.30.

Trading was busy in Bank of Ireland, and it edged up to 10 cents at one stage, before dropping back to close at €0.096, up by 1 per cent.

Among the food stocks, Glanbia had a good day, advancing 20 cents, or 5 per cent, to finish up at €4.20.

Kerry Group was also strong on the day, climbing by eight cents, or 2.9 per cent, to move to € 26.80, while the CC Group gained eight cents, or 2.5 per cent, to finish up at €3.24.

There were few stocks in negative territory. Total Produce fell two cents, or 3.8 per cent, to fall back to €0.39, while Kenmare Resources lost one cent, or 2 per cent to close down at €0.53.

Petroneft was also down on the day. It gave up two cents, or 4.4 per cent, to finish down at €0.35.