Settlement Day: August 22nd: Irish shares outperformed their European counterparts yesterday, driving the index to its highest closing for close to a year. Most stocks contributed to the 1.2 per cent rise, with dealers reporting firm two-way trade at higher levels in the afternoon.
AIB added 17 cents to close at 12.45 after approaching 12.50 earlier in the day. Bank of Ireland was also stronger, finishing five cents higher at €10.80 on slightly heavier volume. The bank's buyback continued on Monday with the purchase of 100,000 shares at €10.66. Bank of Ireland has bought back 17.6 million shares since May.
In other financials, Irish Life & Permanent rose by five cents to 9.77 after an upgrade from Goodbody Stockbrokers. The broker has raised its price target on the stock to €11.50. Anglo Irish continued to strengthen, closing up five cents at 8.75.
Elsewhere, CRH rose on the back of sound housing numbers in the US, closing 32 cents higher at 16.27. Dealers said the substantial selling activity seen in the stock over the past few weeks appeared to be ending.
Ryanair also held up well, rising by 17 cents to €6.35 as a new route to Scandinavia was launched.
Galen rose by 35 cents to 9.05 on low volume, while fellow pharmaceutical, Elan, slid by 10 cents to finish at 4.05.
In agribusiness stocks, Donegal Creameries added 10 cents to finish at 3.10 and IAWS closed up 10 cents at 8.14.
Other movers included Jurys Doyle, which closed at €8.75, up 25 cents, despite indications of falling occupancy rates in Dublin hotels. In smaller stocks, uncharacteristically heavy volume came in Arcon, where almost five million units crossed. The stock closed unchanged at 3.9 cents.
