Financial firm IFG the best performer on resurgent Iseq
27 Mar 2009
Irish Times
THE IRISH Stock Exchange gained ground along with its European peers as some momentum continued behind New York yesterday.
In Dublin, the main piece of markets news was from financial services group IFG, which reported that its profits fell by less than expected last year and posted a 10 per cent fall in earnings per share to 15.7 cent.
Investors received the news well and the stock made solid gains on the market yesterday, closing more than 7 per cent up at 45 cent.
At one point it made gains approaching 14 per cent. Dealers said that volumes were light, but added that the company would be pleased with the performance.
The banks were more of a mixed bag. Irish Life Permanent lost over 3 per cent to close at €1.141. Over 800,000 of the institution’s shares were traded in Dublin yesterday, which traders acknowledged was “light enough”.
Bank of Ireland added 6.12 per cent to close at 52 cent. Around 5.3 million units changed hands in Dublin, and dealers pointed out that the bank was attracting both buyers and sellers.
AIB ended the day 1.54 per cent down at 64 cent. Over 7.4 million of the bank’s shares were sold in Dublin yesterday.
Elsewhere, dealers said that building materials giant CRH had a good day, but this tailed off slightly towards the close of business, leaving the stock just under half a per cent down at €16.20.
Stockbroking firm Davy yesterday held an aviation seminar in Dublin, which included contributions from global players and stakeholders. Ryanair and Aer Lingus both contributed.
The former lost a bit of altitude yesterday, closing 0.36 per cent down at €2.81. Aer Lingus went in the opposite direction, adding 2.61 per cent to close at 59 cent.
Drinks group CC added 3.36 per cent to close at €1.23.
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