The Iseq index edged higher today, but remained stubbornly below the psychologically significant 3,000 mark.
Building materials group Grafton set the pace in Dublin, rising 3.5 per cent, or almost 13 cent, to €3.72.
The agri-food sector enjoyed another positive session, with Glanbia leading the way. The nutritional ingredients and cheese group was supported by a strong turn from Dean Foods, the largest US dairy company, which gained 7 per cent on the back of its quarter four numbers. Glanbia was lifted more than 1 per cent, or 5.5 cent, at €4.25.
Heineken’s 2010 results proved positive for cider manufacturer C&C. Although Heineken predicted that 2011 will be another tough year for the Irish drink industry, its update highlighted the attractiveness of the cider category in the UK and internationally. Heineken closed up 3 per cent at a 52-week high, while C&C added more than 1 per cent, or four cent, to €3.51.
Bakery group Aryzta advanced about 1.5 per cent, or 50 cent, to €32.80, albeit on light enough volume. Greencore failed to tap into the positive momentum in its sector. The stock flatlined at €1.22 despite reports it has held discussions with a number of major food companies, including Nestlé, about mounting a revised bid for Northern Foods.
Drug manufacturer Elan fell six cent to €5.06, but United Drug rose 2.5 cent to €2.22 ahead of its interim management statement tomorrow.
The Iseq finished about 10 points, or 0.33 per cent, higher at 2,989.08. The UK's FTSE 100 increased 0.8 per cent and Germany's DAX added 0.2 per cent, while France's CAC 40 advanced 1 per cent.
Additional reporting - Bloomberg