MARKET REPORT:THE ISEQ index of Irish shares finished up slightly yesterday after a rollercoaster day that saw morning gains wiped out by a sell-off across the world once the US markets opened after lunch, writes LAURA SLATTERY.
The Iseq finished marginally ahead, up nine points on Thursday's close. Market activity was influenced both by speculation about the future of the Irish banking sector and global factors.
European stocks came under pressure after Goldman Sachs said the US was in a deeper recession than it previously forecast and concern grew about the health of Citigroup.
In Dublin, AIB finished flat at €2.15, while Anglo Irish Bank finished down fractionally at 91 cents.
Bank of Ireland, which confirmed that it had received unsolicited approaches from investors, bounced almost 24 per cent to €1.25, up 24 cents.
Irish Life & Permanent, which said it had held talks with EBS about a possible merger, fell five cents to €1.10, down 4.3 per cent.
CRH shares fell after it was downgraded by Moody's and closed down half a percentage point at €15.28, shedding eight cent.
C&C also slipped, shedding 3.3 per cent to €1.14, a loss of four cents. The drinks group is now trading at levels close to those it was trading at before it announced new management earlier this month.
Greencore was 11.5 per cent weaker on €1, with 240,000 shares exchanging hands in a single transaction at that price. It reports full-year results next Tuesday.
It was also a poor day for food group Aryzta, building materials group Kingspan and United Drug, which released results that were in line with expectations but highlighted significant sterling exposure in 2009. However, there was decent buyer interest in paper and packaging group Smurfit Kappa.
