Irish shares ended modestly higher yesterday with financial stocks again outperforming other shares. The financial index closed 1.2 per cent higher while the general share index lost more than 0.2 per cent.
"It was a day for financials over industrials," one trader said, noting both main banks managed to edge higher. AIB gained nine cents to #10, Bank of Ireland added six cents to #6.36 while Irish Life & Permanent was up 10 cents at #9.10.
Traders said the sector was boosted by takeover talk which helped Anglo Irish Bank to push ahead by six cents to #2.24.
However, other leading stocks did not fare as well with CRH losing 12 cents to #19, Eircom down eight cents at #4.72 and Smurfit three cents weaker at #2.47.
Second-liners were quiet with Kingspan unchanged at #3.50 despite releasing a strong set of results for 1999. The building products group announced a 22 per cent rise in pre-tax profits to #58.7 million.
Horizon added a modest five cents to #11.70 after announcing plans to launch a new application service provider on Wednesday.
Elsewhere in the technology sector, Baltimore, which has taken a battering in recent days, closed 2.5 per cent lower in London at £81.13 sterling (#132.31). On the Nasdaq, it was down by 4.5 per cent by the close of trade in Dublin.
Trintech, which had a two-for-one share split earlier this week, remained weak. On the Neuer Markt, it fell by 10 per cent to #57 while on the Nasdaq, it lost nearly $10 (#10.32) or 16 per cent to trade just above $50 by the time business closed on the Irish market.
