Market report:The Iseq ended the first quarter of the year on a mediocre note yesterday, with continued investor concerns surrounding the housing market leading to a sell-off of financial stocks.
Allied Irish Bank closed at €22.20, having lost five cent during the day, while Bank of Ireland slipped down 10 cent to €16.15. Anglo Irish Bank was also weakened yesterday, dropping 12 cent to €16.00.
Irish Life & Permanent managed to buck the trend, however, adding 30 cent, or 1.48 per cent, to finish at €20.55.
Elsewhere, CRH continued to attract buyers on the back of recent news of its investment in Ukraine, gaining another nine cent yesterday, which brought its share price to €32.00.
Speculators reacted well to Newcourt Group's announcement that its subsidiary Sigmar Recruitment has acquired healthcare recruitment company CCM International. The announcement attracted considerable investor attention, and almost four million shares in Newcourt changed hands, boosting its price by 2.35 per cent, or four cent, to €1.74.
Although Grafton Group dipped to €11 at one point, it managed to recover some ground over the course of the day, finishing at €11.25, down 10 cent.
Independent News & Media had another good day, up 1.49 per cent, or five cent, to €3.40.
Information leaked yesterday revealed that the European Commission had expressed anti-trust concerns over Ryanair's takeover bid for Aer Lingus. As the likelihood of a successful takeover receded, Aer Lingus's share price tumbled by 6.15 per cent, or 20 cent, to €3.05.
Meanwhile, continued attention from buyers pushed Smurfit Kappa's share price back up by 10 cent, or 0.54 per cent, yesterday to €18.70.
