Market 'pretty tame' as day's focus is on politics

MARKET REPORT: The market had a reasonably quiet day as attention focused on events in politics. Interest in the leading shares was described by one dealer as "pretty tame" apart from Ryanair, which had its first winning session in a week.

The low-cost airline rallied, despite a report from Goodbody suggesting that a worst-case scenario on oil prices could wipe 30 per cent off profits. Ryanair rose 13 cents, or 3.24 per cent, to €4.14, close to its intra-day high.

AIB and Bank of Ireland traded in relatively light volumes, but followed the positive trend set by UK financials. AIB was 10 cents stronger at the close on €13.60 while Bank of Ireland was 18 cents firmer on the day at €11.20.

Anglo Irish Bank recovered the ground lost on Tuesday. The stock reversed the 17-cent slip with a 20-cent gain to close at €15.05.

Irish Life & Permanent was also on the rise, adding 22 cents to finish the trading session on €13.05.

Among the industrials, CRH had a decent day after opening lower. It hit €19.35 at one stage before coming back at the close to end the day 10 cents ahead on €19.30.

Greencore and Jurys both suffered as a result of announcements on Tuesday.

Greencore spent most of the day below Tuesday's levels as the market digested the consolidation of its food businesses. More than half the 480,000 shares traded moved at the €2.70 level although the stock did rally slightly towards the end of the day to close at €2.75, down five cents.

Jurys was also marked down following the news that Ramada plans to roll out a chain of hotels in Ireland. Dealers said the two groups were targeting different areas of the market but Jurys was 22 cents, or more than 2 per cent, weaker on €10.55.

Readymix moved the other way as investors positioned themselves for the likely takeover of significant shareholder RMC, adding five cents to €1.80.