Greencore leads Iseq gains

“One of the best trading days in quite some time” was how one Dublin trader described the ISEQ today, which ended the day firmly in the black, on moderate volumes, with stocks across all sectors enjoying gains.

The positive end to the week was mirrored across Europe, where most major markets finished higher, mainly on the back of strong gains by financials.

Irish banking stocks continued their recent positive run, in line with the global trend which saw financials rise on the back of news overnight that talks on US banking reform broke down, lowering chances of a broad overhaul of the US financial regulation system.

AIB added just over 4 per cent to close at €1.46 after the bank announced that it had successfully issued €3 billion of senior guaranteed funding. Bank of Ireland gained 5 per cent to close at €1.23. Meanwhile Irish Life & Permanent rose 3 per cent to €3.28.

Greencore saw above average volumes with the stock enjoying the highest level of investor interest since the announcement of its disposal of its malt business according to one trader. The stock was one of the best performers, adding 5 per cent to close at €1.38.

Overall, many of the second-line stocks enjoyed a follow-on from recent results announcements.

Agri-nutrition group Origin Enterprises saw well-above average volumes after posting results on Thursday. Having closed the session lower on Thursday, it gained 2.3 per cent in trading to close at €2.20.

Similarly Total Produce attracted above-average investor interest, though it finished down 3 per cent on the day.

Index-heavyweight Ryanair had a very strong day, rising 2.8 per cent to €3.50. There was good buying interest across the sector with Aer Lingus also adding 1.7 per cent to €0.59.

There were few losers on the index today, although Paddy Power and Kerry Group closed marginally lower this evening.