DUBLIN REPORT: Iseq: 2,311.39 (-16.26) Settlement date: February 4th: ACTIVITY ON the Irish Stock Exchange was relatively subdued yesterday given that it was the last trading day in the month.
Despite holding up well in the morning, once the US market opened dealers noticed some selling off in the Irish market, and by the end of the day the Iseq overall index had slipped by just over 16 points, down to 2,311.39.
In the beleaguered banking sector, Bank of Ireland claimed the title of best performer by gaining one single cent which, after an erratic day’s trading, brought its share price to 65 cent.
However, AIB shed more than 10 per cent of its value, or 14 cent, closing the week at €1.22.
Irish Life Permanent also traded lower yesterday, and finished down 5.71 per cent, or 10 cent, to €1.65.
Ryanair traded pretty much in line with the Iseq index, holding up well in the morning but losing a little ground over the course of the afternoon.
At one point it fell as far as €2.81, but recovered by the time the market closed to finish at €2.87, a loss of 5.28 per cent, or 16 cent.
Elsewhere in the airline industry, Aer Lingus also struggled to withstand the downward pressure in the Irish market yesterday, and shed 6.8 per cent, or 7 cent, over the day, bringing its share price to €1.01.
After being the biggest faller in percentage terms on Thursday, Independent News Media recovered its momentum somewhat, although it finished the day flat at 27 cent.
The exploration sector proved to be the shining light on the Irish market yesterday, with Tullow Oil climbing 42 cent to €7.90, while Dragon Oil rose by 5.73 per cent, or close to 10 cent, to finish out at €1.77.
