Stocks fail to match European recovery

Dublin report: A programme seller made its presence felt in Dublin yesterday, with the market closing 0

Dublin report: A programme seller made its presence felt in Dublin yesterday, with the market closing 0.6 per cent weaker as London and continental European stocks ticked higher.

The financials were worst hit among the bigger names, although some limited their losses more than others.

AIB closed 30 cent lower at €20 on decent volume, while Bank of Ireland moved 10 cent lower to €14.55. Anglo Irish, which did well in the run-up to Tuesday's maiden trading update, dropped by three cent to €12.52.

Irish Life & Permanent also gave up some recent gains, finishing 20 cent weaker at €19. FBD, which met expectations but failed to excite during the week, fell by 49 cent to €38.

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Elsewhere, CRH felt some pain, too, finishing 25 cent lower at €26.55.

Ryanair held its own amid the general declines, managing to rise by five cent to €7.73.

C&C bucked the trend even more effectively, closing 24 cent stronger at €10.49 as investors continued to flock to this year's market darling.

Glanbia was on the winning side too, rising by four cent to €2.54 as the market continued to mull this week's acquisition of a Californian nutrients firm.

Back with the losers, Irish Continental Group gave up ground in the wake of Thursday's numbers, closing 20 cent lower at €10.80.

Kerry Group also declined, falling by 42 cent to €17 on fairly light volume.

Fyffes was busier as the market considered its plan to spin out its general produce and distribution business into a new entity. Shares ended the session at €1.63, down one cent.

Grafton, which is due to present interim numbers on Wednesday, dropped by 10 cent to €10.75. Goodbody, the firm's broker, expects growth of 11 per cent, lifting pretax profits to €92 million.

Settlement day: September 13th

Úna McCaffrey

Úna McCaffrey

Úna McCaffrey is an Assistant Business Editor at The Irish Times