Iseq: 2,924.76 (–15.74) Settlement date: June 10thTHE IRISH market was largely flat yesterday, as nervousness about the outlook for the US economy and concerns over the Greek crisis continued to overhang markets.
After an early bounce, that it failed to follow through on, the Iseq closed down 15.74 points, or 0.54 per cent, to 2,924.76.
CRH traded off a little bit on the day, giving up three cent or 0.2 per cent, to fall back to € 14.46 with one dealer noting that the stock is now largely attracting “long-only value type investors”.
Ryanair fell back slightly declining two cent, or 0.6 per cent, to close down at €3.61.
Aer Lingus which averted industrial action by pilots due to start yesterday, experienced an early surge before slipping later in the day, to close down by one cent, or 1.2 per cent, at €0.80.
After a strong run over the past few weeks leisure group Paddy Power lost ground with some profit taking in the stock. It dropped 63 cent, or 1.7 per cent, to close at €36.12.
Although food group Aryzta produced a solid trading update, announcing its sales were up by 24 per cent on the year, it was nonetheless off a bit on the day, and it fell back by €1.05, or 2.7 per cent, to finish at €37.45.
Bank of Ireland was also under pressure and it dropped 5.6 per cent to close down at €0.135.
Paper and packaging firm Smurfit Kappa had a good day, enjoying a bounce on the back of a strong bid for US paper firm Temple Inland. It rose 19 cent, or 2.3 per cent, to climb to €8.34.
Kerry Group pushed past the €30 mark in strong volumes, after adding 11 cent, or 0.35 per cent, to finish up at €30.11.
There was interest in Irish Life & Permanent on the back of speculation that it has trade buyers interested in its insurance arm, Irish Life. It added 4.4 per cent to advance to €0.10.
