Rising grain prices knock Greencore

Dublin report:It was another reassuring if far from spectacular day on the Irish Stock Exchange - no major rebound, but a healthy clawing back of almost half a per cent of its recent losses.

It was the third consecutive positive day for the Iseq index, which finished up 0.47 per cent.

The most significant fallers were drinks group C&C and food group Greencore, which both fell by almost 3 per cent to close at €5.58 and €4.28 respectively.

The former company has had bad weather as well as bad financial markets to contend with this summer, while rising grain prices could put pressure on Greencore.

Among the financials, Anglo Irish Bank broke the positive trend, falling 2 per cent as 5.5 million shares traded. It closed down 27 cent at €13.69.

It was a better day for AIB, which managed to finish up 2 per cent at €19.16 - 38 cent higher - on volume of 2.5 million. Bank of Ireland, meanwhile, climbed 3 cent to €13.33 as 1.5 million shares changed hands.

Irish Life & Permanent, which releases interim results next Wednesday, also had a good day, closing up more than 1 per cent at €18.00, 20 cent higher than Monday's closing price.

Elsewhere, better than expected sales figures for a major DIY retailer in the US were seen as positive news for CRH, which finished up 14 cent at €30.09.

Independent News & Media, which purchased 300,000 of its own shares at prices ranging from €3.12 to €3.18, finished up 2 cent at €3.12.

After a block of its shares were bought up by Ryanair on Monday, Aer Lingus had a quiet day yesterday, as the pilots' strike was averted. Some 4.5 million shares traded in Ryanair - now Aer Lingus's biggest shareholder - and Michael O'Leary's airline saw its share price close up 4 cent at €5.06.