The Dublin market rose by 0.52 per cent yesterday, reflecting positive sentiment in London. Industrial shares gained most, rising by 0.63 per cent on the day.
The big news concerned Friends First fund manager Mr P ramit Ghose, who is leaving the group to become managing director of the new fund management subsidiary of Hibernian and Norwich Union.
On the market, CRH was the biggest mover as investors returned to the stock after heavy selling last week, with one dealer noting that it had fallen to "unreasonable" levels. The share was also buoyed by expectations about today's a.g.m. and it finished the day at €18.40, up 80 cents on its close last week.
But other general stocks lost out, with Smurfit losing two cents to close at €2.38 and Ryanair dropping 15 cents to €8.85. Kerry Group lost five cents to end the day at €13.90 and Elan fell back also, losing 50 cents to close at €48.50. Eircom dropped another cent to €3.82, still below its flotation price.
Of the financials, AIB dropped eight cents in heavy trading to €10.90. However, one dealer said there was no particular factor at play.
Traders reported strong interest in Irish Life & Permanent,[B O]Bank of Ireland and Anglo Irish Bank, which reports today. Anglo gained nine cents to close at €2.52, Bank of Ireland closed up eight cents at €7.50 and Irish Life & Permanent fell back a cent to €9.14.
