DUBLIN REPORT: Iseq:2,847.39 (-19.21) Settlement date:August 14th
THE SUMMER lull in stock market trading continued yesterday, as the Iseq index of Irish shares finished flat and total trading volumes remained comfortably below the 20 million mark.
CRH, Ryanair, AIB, Bank of Irelandand Kerrywere the busiest stocks on a lacklustre day.
Food group Greencore,in which financially-troubled property developer Liam Carroll has a large stake, was the most significant climber in percentage terms, extending its positive run with a 13.6 per cent climb to €1.42 – up 17 cent. Greencore, which has a large exposure to the British food market, may have been a beneficiary of positive investor sentiment following a half-year trading update from British baked goods and sandwich retailer Greggs, which yesterday reported declining sales but improving margins.
Irish-listed bakery group Aryztaalso felt the glow from Greggs, rising 1.5 per cent to €24.80. Kerryrose 4.1 per cent to €17.70, amid comment that the company, which is a supplier of cheese to the fast-food sector, could be a beneficiary of the trend that has seen McDonald's post a 4.3 per cent rise in European sales. Meanwhile, Total Produce,the fruit distribution company, added a cent to close at 34 cent.
Paper and packaging group Smurfit Kapparecovered from some modest early pressure to also advance one cent to €4.25 ahead of its second-quarter performance update today.
Ryanairfell 3.1 per cent to €3.05, continuing its subdued run of the last few days. The financial stocks all slipped, with AIB falling the most, down 5.6 per cent to €2.01. CRH, was broadly flat, adding 11 cent to €17.40, despite reports that payments to building contractors in the US continue to accelerate under its highway stimulus programme.
