Market Report: Ryanair was the source of most excitement on the Irish market yesterday, with the airline's warning of a negative ruling on Charleroi prompting a sell-off in its shares.
Settlement Day: November 17th
The stock ended the day 27 cents lower at 6.56 on volume of more than six million shares in Dublin and another 3.3 million in London. The formal decision on Charleroi is still some weeks away.
Elan performed more positively, with the bullish outlook statement accompanying the firm's third-quarter numbers pushing its shares up 15 cents to end 4.60.
Bank of Ireland strengthened in anticipation of the interim numbers it was due to issue today, climbing eight cents to 10.71. The bank's inadvertent release of the numbers last night occurred after the market closed and did not affect yesterday's trade in Dublin.
AIB rose one cent to 12.57 as 2.2 million shares changed hands. Anglo Irish was also solid, rising seven cents to 10.17 on trade of half a million units. Irish Life & Permanent added a cent to finish at 12.11.
The industrials were generally weaker, with CRH leading the decline. The stock finished at 15.50, down 15 cents. DCC failed to draw any benefit from news of a buyback, dropping 32 cents to 10.65.
Paddy Power bucked the negative trend by closing four cents higher at 6.48. Goodbody Stockbrokers yesterday set a price target of 7.50 on the stock, citing its ability to grow substantially over the long term in the UK.
Waterford Wedgwood was busier than most, with 3.4 million shares traded before it closed unchanged at 29 cents. The market continues to await an update on the company's refinancing plans.
