Market update: ISEQ down on European weakness

The ISEQ succumbed to negative sentiment on European markets this morning to reach midday marginally down 0.87 on 5,724.70.

After gains yesterday AIB was down 15 cents on 11.90; Bank of Ireland recovered yesterday’s losses to add 18 cents to euro 10.28.

Irish Life and Irish Permanent stock was off 15 cents by mid-session on euro 12.20.

Market heavyweight Elan was slightly ahead on euro 60.70, adding 20 cents and Galen dropped 10 cents after strong performances earlier this week.

Food stocks seemed stale this morning with Golden Vale off three cents on euro 0.79, Greencore down four cents on euro 2.52 and Kerry shedding 10 cents to euro 12.59.

Travel and tourism stocks saw Ryanair leap 22 cents ahead to euro 11.02 and Ryan hotels, fresh from their rebranding yesterday, added six cents to euro 0.82. Jurys shed 11 cents to euro 9.20.

Eircom continued its recent momentum to gain four cents to reach euro 2.64 - its highest price this year on the back of continuing strength by Vodafone.