Iseq: 2,662.03 (–14.15)

AS ANOTHER tumultuous week for the markets came to an end, Irish equities had a slightly better day yesterday, with the Iseq index finishing slightly lower despite having spent most of the day in positive territory.

The decline in bond yields fed into the equity market, particularly banking stocks, offering some respite.

Bank of Ireland was well-bid according to analysts, and again was the most traded stock, though speculation continued about the presence of one or two buyers in the market. Bank of Ireland advanced 2.7 per cent on the day to close at 63.7 cent.

As the market continued to digest the surprise announcement on Thursday as regards the need of AIB for further capital, and its implications for current shareholders, the stock closed down 6.5 per cent ending the day at 47.4 cent.

Irish Life Permanent traded higher in the morning but sold off in the afternoon, though it still managed to add 1.7 per cent to close at €1.41.

There was weakness in Ryanair stock as the airline gave up recent gains, shedding 2 per cent or eight cent to close at €3.84. Analysts said a combination of profit-taking and concerns about rising oil prices were most likely behind the falls. Aer Lingus ended the day flat at just over €1.04.

The performance of CRH was described as “disappointing” by one trader, with the Iseq’s largest constituent retreating 1.2 per cent to €11.90.

CC fell just over 2 per cent on the day, or seven cent, to €3.15 on the back of excise data which showed that Irish cider sales in July were down almost 7 per cent year on year.

There was also action around Tullow Oil, following news that the company had secured an injunction on its Congo Oil development. It finished flat at €14.98.

Settlement date: October 6th