Iseq:2,956.56 (-2.80) Settlement Date:November 17th
THE ISEQ remained flat yesterday, in line with many of its counterparts in Europe, closing down about 0.1 per cent after a relatively quiet session.
Bookmaker Paddy Powerwas the day's shining light, with its shares rising €2.10, or some 9.5 per cent, to €24.40.
About 250,000 Paddy Power shares changed hands, with the stock buoyed by news that the company is to enter into the French online sports betting market. It has secured an outsourcing contract to manage risk and pricing for PMU’s new online sports betting business.
In a trading update, Paddy Power also indicated that turnover increased strongly between July 1st and November 10th.
Irish financial stocks had a mixed day, with Irish Life & Permanentthe pick of the bunch, closing up 1.2 per cent at €4.70. Bank of Irelandclosed down 2 per cent at €1.86 and AIBfinished at €1.92, dropping 2.3 per cent.
The Iseq's biggest stock, building supplies provider CRH, recorded a marginal gain, closing up 0.4 per cent at €17.44. One trader said CRH found itself flat of late as there had been few moves in the US road-building programme and investors favoured stocks with more exposure in eastern markets.
Elsewhere, pharmaceuticals giant Elanclosed up 2.4 per cent at €4.22, while United Drugjumped some 1.3 per cent to €2.38.
Bakery group Aryzta AGclosed at €26.37, up 1 per cent, while food and ingredients producer Kerry Grouphad a similar gain, closing at €20.49.
Drinks group C&Cdropped 2.9 per cent in the session, while Dragon Oilwas the day's biggest loser, closing down almost 4 per cent at €3.71 after it emerged that a €3.9 billion takeover bid by Emirates National Oil Company was to be rejected.
