MARKET REPORT:MEMORIAL DAY in the United States and another bank holiday in Britain cast an eerie silence over the Irish Stock Exchange yesterday, as the Iseq index drifted up 0.8 per cent in a quiet trading session.
Stocks were illiquid, volumes were light, and the only real news came courtesy of persistent telecommunications entrepreneur Denis O'Brien, who kindly informed Independent News & Media, in accordance with stock market rules, that he now holds 22.6 per cent of the total number of voting shares in the media group.
Drinks group C&C was one of the most active stocks, with more than 750,000 shares trading, and it finished the day down one cent at €5.19, ahead of new data for off-licence and supermarket alcohol sales due to be published on Friday.
Bank of Ireland was the busiest player in the financial sector, notching up volume of 500,000 shares, and the stock managed to gain 2.6 per cent, closing up 21 cent at €8.31.
Trading in building materials company CRH and food group Greencore, which publishes half-year results tomorrow, edged over the 300,000 mark and both stocks also managed to make gains ahead of the market average.
CRH climbed 1.1 per cent to €24.00, up 27 cent, while Greencore added 7 cent to close at €3.62 - a daily climb of 2 per cent for the stock.
Paper and packaging group Smurfit Kappa rose 12 cent to €6.75, up 1.8 per cent.
There was very little activity in Ryanair, which finished flat at €2.62, but the stock will be one to watch today.
Oil prices remain persistently high and the market may react to media reports that the airline is to ground 20 planes because rising oil prices may have made some routes unprofitable.
