Another strong performance by CRH ahead of its results next Tuesday meant that the Irish market bucked the weaker trend on international markets, with the ISEQ nosing ahead a few points and closing to within two per cent of its all-time high.
CRH is generating plenty of interest at the moment and not just because good results are expected next week. The recent Ibstock acquisition, the sale of the Keyline chain and the possibility of a bid for the Castle Cement and Finncementi arms of the Scancem business has meant plenty of bid interest in the shares.
Yesterday, CRH jumped 55 cents to a new all-time high of #16.90 (£13.31) while in London the shares were up 32p to £11.55 sterling (#16.87). Otherwise the leaders experienced little in the way of price movement, with AIB up 15 cents on #15.80 (£12.44) while Bank of Ireland drifted 15 cents lower on #18.85 (£14.85).
Elsewhere, First Active lost 12 cents to #4.23 (£3.33) although Independent got a bit of a boost from some recent positive broker comment and gained 12 1/2 cents to #3.42 1/2 (£2.70). Kerry was 10 cents lower on #11.70 (£9.21). Smurfit continued to gain ground, closing 5 cents higher on #1.95 (£1.53). Among the small caps, seldom-traded Rapid Technology was 15 cents higher on #1.40 (£1.10) while Tullow jumped 6 cents to #0.76 (60p) on reports of a big oil find in Egypt.
