Dublin Report: Dublin outperformed rival stock markets despite sharing the late day slippage triggered by poor US jobs figures.
At its high point, the ISEQ was 43 points ahead. Following the announcement of the poorer-than-expected US employment data, it surrendered some gains but still closed around the mid-point of the day's trading range and at a 12-month high.
The big Irish corporate story of the day was away from the ISEQ, with AIM-listed Petroceltic seeing its share price tumble 39 per cent to 9.75 pence on news that it had suspended drilling at a prospect in Tunisia.
Back in Dublin, the banks all saw reasonable levels of interest, closing ahead. AIB which this week traded above the €15 mark for the first time in over 18 months, closed at €15.10, up 13 cents or 0.87 per cent on the day.
Rival Bank of Ireland was not quite as strong, closing up six cents on €11.75, a half percentage point firmer.
Anglo Irish continued to move ahead, trading as high as €17.75 at one point before closing five cents stronger on €17.45 while Irish Life & Permanent reported the stronger percentage gain on the day, up 0.97 per cent or 17 cents on €13.55.
Elsewhere Ryanair moved ahead as the threat of higher oil prices dimmed slightly. The share, which is seen by dealers as largely an oil play at present, closed seven cents higher on €5.62. CRH also had a good day, particularly given the dollar's difficulties. Almost half the company's profits are now dollar denominated but investor confidence in the business despite the likely impact of adverse currency movements has seen it hold up well, traders said. It ended the week on €19.30, up five cents on the day.
The parties at the centre of the insider trading case both ended the week on an upbeat note. DCC continued to recover some of its recent lost ground, adding five cents to €15.80 while Fyffes is still underpinned by bullish banana prices, closing on €2.07, up two cents.
