Market report:It was a strongly positive day in the Irish market yesterday despite the UK being closed for the summer bank holiday.
The Iseq index put in a stellar performance, rising more than 1 per cent, to end the day at 8,413, though dealers said that, as usual, there was little local news to provide momentum.
Building materials group CRH put in a strong performance, rising 3.3 per cent, or 99 cent, to end the day at €31.31.
The company, which has suffered recently in light of the negative sentiment in the US construction sector, is due to release its interim results today and dealers expect the news to be good. One dealer said that the company had already flagged good growth in its first-half numbers and all eyes would be on the outlook for the second half.
Kingspan was also strong, adding 2.6 per cent, or 45 cent, to close at €17.70. It is due to release results next week.
Drinks group C&C continued to lose ground following the hammering it received on Friday, ending the day down just under 1 per cent, or 5 cent, at €5.15. It was one of the few stocks to trade more than a million units yesterday as volumes were quiet across the board with the absence of UK investors.
Elsewhere, the financials all put in a lacklustre performance, with volumes uncharacteristically quiet.
Bank of Ireland and AIB were both losers, with Bank of Ireland losing 14 cent, to close at €13.35, while AIB was down 10 cent, at €19.38.
Anglo and Irish Life & Permanent, meanwhile, were both gainers, rising 25 cent and 4 cent, to close at €14.20 and €18.10 respectively.
Property group Blackrock is also due to release results today, but it closed unchanged yesterday at 46 cent.
Settlement day: August 30th
