Trading was relatively quiet in Dublin with the adverse weather conditions being blamed for contributing to low-volume trading. AIB was among the strong performers yesterday during a session when the ISEQ Index ended five points higher at 5,885.05.
The Republic's biggest bank hit a fresh year high, trading up 35 cents to €12.55 as it enjoyed a further bounce on the back of renewed interest in the financial sector across Europe.
Bank of Ireland failed to capitalise on the firmer trend and closed two cents lower at €8.98. Despite continued strong interest in the stock, Irish Life & Permanent ended the session seven cents lower at €12.13.
Among the other financial stocks, Anglo Irish Bank gained one cent to €2.82 while First Active was five cents weaker at €2.10. The former building society yesterday announced it had bought back 37,621 of its own shares as part of a share buy-back programme.
Elan announced that its new cervical dystonia treatment drug, NeuroBloc, has been approved for recommendation by the EU's Committee for Proprietary Medicinal Products. The approval had been expected and had a positive impact on the shares in New York. Dealers reported strong interest from buyers in the US. In Dublin though the shares shed 45 cents to €60.45.
Other stocks traded included CRH which added 25 cents to €18.25 while Smurfit was weaker at €2.09, down four cents.
Ryanair was stronger ahead of second-quarter results today. The shares ended the day five cents higher at €9.60.
Investors showed some interest in Fyffes yesterday following a buy recommendation from NCB last week. The shares closed slightly weaker at 94 cents, down one cent. Grafton Group dropped 50 cents to €24.
