THE prospects of interest rate cuts in Germany and the US, a move to another all time high in London, and an unexpectedly firm opening on Wall Street, combined to push the Irish market to another all time closing high.
Leading industrials were the main contributors to the new high, with financial shares generally weaker.
Strong demand from London pushed CRH up 9p to a new high of 484p, with over 400,000 shares trading in London alone. Smurfit was also firmer and dealt up 3p to 149p, with JS Corp also firmer in New York.
Other industrials to push ahead were DCC, up 5p to 222p, and Greencore, up 5p to 542p. James Crean added 15p to 235p as developments on the Inishtech front are awaited.
Kerry reached a new intra day high of 510p before closing up 5p on the day on 505p, Clondalkin gained 2p to 365p, while Fyffes was unchanged on 111p after full year results at the upper end of market forecasts.
Silvermines was unchanged at 69p - Standard Life has emerged as a sizeable seller of the stock, having sold 1.15 million shares earlier this month to take its stake down to 4.8 per cent.
Financials were marginally weaker despite the prospect of lower interest rates. Bank of Ireland lost 3p to 459p and AIB was 1p lower on 359p, while Irish Permanent came off its high with a 4p fall to 404p. Woodchester went against the trend and gained 3p to 185p.
Gilt dealers spent most of the day monitoring developments in Frankfurt and New York, although prices came off marginally in afternoon trading.
