Market Report:Trading was mixed in the market yesterday as the Iseq index of Irish shares ended the day little changed despite positive economic data out of the US that boosted several other European markets.
Ryanair was by far the busieststock, with as many as 20.8 million shares changing hands, though the share price held steady closing unchanged at €4.96.
About half of the volume was attributable to the company itself as it continued its share buy-back programme with the purchase of a further 10.5 million units at a total cost of almost €52 million. However, even after stripping out the stock bought by the airline, volume was heavy.
Elsewhere, a positive trading update from building materials group Kingspan helped boost the group's share price even though the forecast for 20 per cent growth in operating profits was unchanged from earlier guidance. The shares rose 1.4 per cent, or 29 cent, to €20.76.
Drinks group C&C was again one of the worst performers, with a further 4 per cent decline bringing the weekly drop to 12 per cent.
More than €380 million has been wiped off the company's value this week, prompted by concerns that the bad weather is deterring people from drinking the group's flagship cider.
The shares closed yesterday down 41 cent, at €9.98, the first time they have finished below €10 since March 15th.
Shares in IN&M added 1.1 per cent, or four cent, to €3.75 after the group released a trading update that dealers said was in line with expectations. The company said it plans to continue buying back its own shares
Shares in digital camera maker Andor Technology, which yesterday made its debut on Dublin's IEX, closed at €1.49.
