Iseq edges up on steady performance by financials

Iseq:3,110.85 (+23.00) Settlement date:January 19th

THE ISEQ inched ahead yesterday, closing 0.75 per cent higher on the back of a reasonable performance from the financials.

Dealers reported decent volume in the banks as a whole, with Irish Life & Permanentagain attracting particular interest. Its shares rose by 17.3 cent to €3.90, supported once more by its ability to remain outside the National Asset Management Agency and an imminent fund-raising.

AIBalso did well, rising by 6 cent to €1.49, while Bank of Irelandlet the side down by declining 0.8 cent to €1.495.

Elsewhere, attention fell on C&C, which is due to update the market on its performance tomorrow morning. Investors should expect news on the integration of last year's Tennants acquisition, with some expecting greater synergies than had originally been flagged. Fears of profit-taking weighed on the shares today, however, pushing them down by 4.5 cent to €2.805.

Independent News & Mediawas under some pressure throughout the day, closing 0.4 cent lower at 11.1 cent. Kingspanwas also on the negative side, shedding 10 cent to end the session at €6.75. Ryanairwas a stronger performer, climbing by 4.9 cent to €3.401. Fellow airline Aer Lingusrose by 3.5 cent to 69 cent.

United Drugbuilt on Wednesday's sound performance, adding another six cent to reach €2.23. Paddy Powerwas another solid player, rising by 25 cent to €24.55.

DCC, whose energy business will have benefited from the continuing cold snap, rose by 18 cent to €21.10.

On the losing side of the board, Kingspansuffered a 10 cent fall to €6.75, while market heavyweight CRHshed 18 cent to settle at €18.29. Greencorewas reasonably busy as it declined by 2 cent to €1.35, while fellow food stock Kerryclimbed by 19 cent to €21.76.