Iseq: 1933.13 (-14.28) at 12.25pm:The Iseq followed other markets downwards today on the back of the publication of disappointing results from a number of firms and concern over the state of Japan's economy.
Among the top gainers this morning were Belfast-based broadcaster UTV, which gained 15 per cent in early deals following the publication of its results.
The company said revenue rose 6 per cent from £113 million to £120.3 million last year, while operating profit was unchanged at £28.1 million. Profit plunged 39 per cent on reduced TV advertising revenue and one-off costs, and it warned that it expected a further decline in ad revenues this year.
Net income fell to £8.98 million from £14.7 million from a year earlier while sales totalled £120.3 million compared to 113.8 million in 2007.
Pre-tax profits, before exceptional items was down 2 per cent to £20.3 million from £20.8 million.
At 12.30 pm, shares in the broadcaster were up 89c at 67c.
Other gainers this morning included banking shares with AIB gaining 2c to 46c, Bank of Ireland up 12 at 22c and Irish Life & Permanent adding 35c to 80c.
Gastro-intestinal drugs development firm AGI Therapeutics, which today hailed positive results in a phase II proof of concept study of a new product designed to ease the side effects of cancer chemotherapy, was flat at 19c.
Elsewhere, bakery group Aryzta declined 15c to €16.60 while CRH was down 13c to €13.68.
Aer Lingus, which saw its shares nosedive yesterday following the publication of its full-year results, recovered somewhat this morning. It was trading down 1c at 57c. Athlone-based Elan, which also dragged the index lower yesterday, was up 14c at €4.04.
Across Europe, the FTSE 100 index was down 1.4 per cent, Germany's DAX was 2.1 per cent lower and France's CAC 40 slipped 2.2 per cent.
Earlier, Japanese stocks fell sharply. The benchmark Nikkei lost 2.4 per cent to 7,198.25, eating away at yesterday's 4.6 percent gain - the biggest one-day gain in six weeks.
The broader TOPIX finished down 3 per cent at 700.93, its lowest close since December 1983.
Additional reporting: Agencies
