Iseq ends week on positive note

In line with most markets across Europe, the Iseq managed to stave off market uncertainty arising from volatile commodity prices, ending the week in positive territory.

Traders in Dublin described today as a day of two halves, with the publication of non-farm payrolls data from the US at lunchtime providing some reassurance to an initially tentative market which continued to be spooked by yesterday's heavy sell off in commodities.

The publication of the better-than-expected US data boosted the market, with trading in Dublin characterised by some significant swings from individual stocks.

CRH was a case in point, rebounding from lows of €15.84 to finish at €16.51, gaining 3.5 per cent on the day. There was decent liquidity in the Iseq's largest stock, which earlier this week published positive earning figures.

Smurfit Kappa was also a key player, with the packaging company posting first-quarter results. Due in part to rising input prices, the results were behind some analysts' expectations, and the packaging company spent most of the day in negative territory, closing down just over 4 per cent at €8.32.

Elsewhere, airline stocks were active on the back of falling oil prices. Ryanair was well bid, and was one of the best performers of the day, finishing up 4 per cent at €3.60. Aer Lingus, which held its AGM today and warned earlier this week of further cost-cutting measures, finished close to 2 per cent higher at €0.84.

Other well-known stocks in the index advanced today, ahead of a flurry of figures next week. Food stocks in particular performed well. Kerry Group advanced 3.2 per cent to €28.90, while Aryzta continued its strong run of late, closing up 2 per cent at €38.30.

DCC, which reports results next Tuesday, was also well bid, adding 40 cents or 1.8 per cent to finish at €22.25.