Dublin Report: The Irish stock market was one of the better performers in Europe yesterday, bolstered by a positive half-year earnings reporting season to date.
Kingspan and Jurys became the latest stocks to issue interim figures although the share price of the two companies went in opposite directions.
Shares in the building materials company added 30 cents, or 5.8 per cent, to €5.45 as Kingspan beat market expectations with a 33 per cent rise in first-half pre-tax profit to €37.5 million.
By contrast, Jurys stock lost 30 cents, or 2.8 per cent, to €10.25 as the market reacted to figures showing a 1.5 per cent rise in interim pre-tax profits to €21.95 million, slightly shy of expectations. While the hotel group's inn and overseas operations did well, there were concerns about the performance of its Irish hotels.
Overall, the ISEQ added 35 points or 0.6 per cent as other leading European stock markets marked time. In Dublin, the main stocks generally edged higher.
AIB added 13 cents, or nearly 1 per cent, to €13.35 while Bank of Ireland was up by 16 cents, or 1.4 per cent, to €11.41. Anglo Irish Bank also continued to advance, adding 15 cents to €14.45.
Dealers said CRH was benefiting from investor interest generated by the roadshow in the wake of last week's results. The shares added 23 cents, or 1.2 per cent, to €19.33.
There was good activity in Fyffes, with more than 2.5 million shares traded, as the stock added five cents, or 2.7 per cent, to €1.92.
Independent News & Media was little changed, closing just one cent lower at €2.06 as its mobile phone associate, iTouch, said it moved into profits in the first half.
Other movers yesterday included C&C, which edged up by three cents to €2.46, and Ryanair, off seven cents at €4.36.
Shares in Norish, which said on Monday that it was in talks which could lead to an offer for the company, were unchanged at €0.85.