Investors unmoved by airline's results

It was Aer Lingus's first set of results since its high-profile debut on the stock market last year

It was Aer Lingus's first set of results since its high-profile debut on the stock market last year. But the airline's full-year numbers, which included a slight fall in pre-tax profit to €90.4 million, failed to move many people.

Trading in the stock on the Iseq yesterday was thin at less than 70,000 and it finished down 1.72 per cent at €2.85, a fall of five cent.

The airline was comprehensively out-traded by Calyx, an IEX-listed technology company that yesterday announced it had received a preliminary MBO approach led by its chief executive, Maurice Healy. Shares in Calyx jumped sharply immediately after the announcement and it closed up 8 per cent at €1.35, which values the company at around €87 million. Some 336,000 shares traded in the stock.

Overall the Iseq opened positively yesterday but eventually fell back in sympathy with global markets and closed down more than 1 per cent. There was reasonable volume among the financials, with a selling off of AIB shares, which fell 16 cent to €23.40.

There was some switching into Bank of Ireland, which has underperformed relative to AIB of late. Bank of Ireland finished down 21 cent at €17.20, a drop of 1.21 per cent.

CRH shed 50 cent to close at €31.11, down more than 1.5 per cent. Both AIB and CRH are paying dividends today. Ryanair shed almost 2.5 per cent from its share price, falling 14 cent to €5.62.

Kingspan, a stock that has been stuck in a rut of late, put in a good performance amid poor market conditions, adding 32 cent to close at €19.45, with just over a million shares traded.

Elsewhere, Irish Continental Group added five cent to close at €19.15.

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Laura Slattery

Laura Slattery

Laura Slattery is an Irish Times journalist writing about media, advertising and other business topics