Market Update: Iona continue to soar

Iona shares continued to surge this morning on the Dublin market as investors bought into the company on the back of its record…

Iona shares continued to surge this morning on the Dublin market as investors bought into the company on the back of its record results yesterday. Shares in the hi-tech firm were up some 8 per cent by lunchtime, trading at euro 68.00.

Despite this the overall index remained relatively unchanged at 5,596.15, down 1.47 points on the day.

The main financials continued to be relatively weak with the exception of AIB which rose 4 cents to be trading at euro 13.00. Bank of Ireland was unchanged at euro 9.78 while Irish Life & Permanent fell 12 cents to euro 11.90.

CRH remained strong, rising 2 cents to euro 19.10 while Eircom failed to hold onto yesterday's gains falling 5 cents to be trading at euro 2.48.

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Smurfit continued to be strong, up 2 cents to euro 2.10 while Ryanair was down 5 cents to euro 10.80. Jurys was up 20 cents to euro 9.70. Similarly the ITG group saw a rise of 50 cents to euro 8.50.

Eoin Burke-Kennedy

Eoin Burke-Kennedy

Eoin Burke-Kennedy is Economics Correspondent of The Irish Times