Financials in solid form despite lower volumes Una McCaffrey

The market took good support from robust US manufacturing data and positive US company results yesterday, with Wednesday's gains…

The market took good support from robust US manufacturing data and positive US company results yesterday, with Wednesday's gains extended by the close. The financials were again in solid form, although volumes were a touch lower than in previous days.

AIB traded as high as €13.95 at one point before closing back at €13.90, up slightly more than 1 per cent on the day.

Anglo Irish was also firmer, as investors anticipated an update statement due at the bank's a.g.m. next week. Shares finished at €13.40, up 21 cents. Irish Life & Permanent rose 15 cents to €13.65.

Bank of Ireland fared less well than the rest, with shares down five cents at €11.80 by the close.

READ MORE

The exchange's gaggle of food stocks looked a touch unloved throughout the day as investors continued to investigate what the rest of the market might have to offer. Kerry closed three cents weaker at €14.45, while Greencore dropped five cents to €3.40. Glanbia finished positively at €2.26, up one cent, despite trading lower for most of the session. Fyffes broke the mould by adding two cents to close at €1.80 on very healthy volume.

Elsewhere, Heiton finally got some benefit from strong results issued earlier in the week, with shares climbing 34 cents to €4.49. Grafton rose four cents to €5.81.

Market heavyweight CRH rose 10 cents to €17.50, although volume was unimpressive. Ryanair was busier as it steadied in the wake of Wednesday's placing of 6.4 million shares. Dealers said most trade came in the €7.05 to €7.15 range, with shares closing at €7.10, up two cents. United Drug attracted more attention than usual, with some 1.8 million shares traded. The stock ended at €2.30, down three cents. Elan had a better day, marking a rise of 10 cents to €6.65. In smaller stocks, Datalex added 6 per cent to close at 69 cents. MBO-target, Oglesby & Butler, recorded the biggest jump when shares rose by 40 per cent to 35 cents, albeit on minimal volume. Dublin ReportSettlement Day: January 20th