ISEQ joins European markets on the rise

The ISEQ moved ahead in unison with other European markets this morning on the back of bargain-hunting by investors following…

The ISEQ moved ahead in unison with other European markets this morning on the back of bargain-hunting by investors following last week's losses.

At 11.53 a.m., the market was ahead 0.37 per cent on 4583.47. The rally was in line with a recovery on Friday evening on Wall Street that spread to the main European markets this morning.

The financial stocks had a mixed morning, with Allied Irish Bank ahead 3 cents on €12.76 on a light volume of trades. Bank of Ireland shares added 8 cents to €10.36 and was joined in positive territory by First Active, which saw its shares add 1 cent to €4.70.

But Irish Life & Permanent dropped 25 cents to €11.25 as profit-takers shed the stock, while Anglo Irish saw its shares fall by 5 cents to €9.17.

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Building materials group CRH eased ahead 14 cents to €16.24 while fellow construction sector stock Kingspan dipped to €3.25, a fall of 1 cent.

Gresham Hotel Group shares slid 1 cent to 0.88, while Jurys Doyle continued to bask in positive territory following its stronger-than-predicted results last week adding 10 cents in early trade before slipping back to €9.20, unchanged from Friday's close.

Low cost airline Ryanair eased ahead 12 cents to €6.50 while Kerry group shares dropped 5 cents to €14.80.