Currency fluctuation and New York strength lure investors

IT was a generally busy day on the Dublin market driven by positive developments in New York and London and by continuing interest…

IT was a generally busy day on the Dublin market driven by positive developments in New York and London and by continuing interest from overseas investors attracted to Irish stocks because of the currency situation.

Overseas interest was strongest in the financials and other leaders, with Bank of Ireland closing at 720p, an increase of top on the day.

AIB ended the day at its opening price of 490p, with interest in the bank being affected by the selling of AIB shares in the US.

Anglo Irish Bank closed down 1p, at 84p and Irish Life ended the day down 2p, at 338p.

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Srnurfit had a good day, finishing at 172p, an increase of 5p. As well as the overseas interest in Irish shares the stock was influenced by beneficial developments in the US paper sector.

Irish Continental had a very strong day, finishing at 675p, an increase of 50p.

Unidare increased by 20p, closing at 200p. CRH increased by 3p, to 683p, and Clondalkin by 5p, to 620p.

Among the food companies, Avonmore, which held its a.g.m. in Kilkenny yesterday, closed at 232p, an increase of 2p. Waterford Foods showed little movement, ending the day at 90p, an increase of 1p as investors wait to see whether Avonmore will now come back with an improved bid.

Greencore closed down 2p, at 343p while Fyffes increased by 2p, to 97p.

Among the other movers were Abbey, which increased by 5p, to 220p, and Ardagh, which increased by 2p, to 137p. Grafton grew by top, to 910p. Green Prop grew by 2p, to 312p. The IAWS Group increased by 5p to 240p.

Ivernia increased by 3p to 100p.

Jurys was up 5p, to 365p. Northern Ireland Electricity was up 2.5p to 435p.