Strong day for Iseq as Anglo, Glanbia attract buyers

DUBLIN REPORT: THE ISEQ had a reasonably strong day, according to dealers, who said there were plenty of buyers for a number…

DUBLIN REPORT:THE ISEQ had a reasonably strong day, according to dealers, who said there were plenty of buyers for a number of leading shares.

Food group Glanbia, which yesterday reported a 34 per cent rise in pretax profits to €99.7 million, attracted strong support during the day. The stock closed up 1.63 per cent at €5.

Insurance group FBD announced a 48 per cent rise in profits, but ended the day down six cent at €29.13. The group said premiums had been falling, but also pointed out that they had reached the bottom of the cycle. Brokers suggested this made investors slightly wary of the company.

Anglo Irish Bank performed well ahead of issuing a trading statement today. The shares gained 35 cent or 3.81 per cent to close at €9.53.

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Almost 4.2 million shares in the bank were traded in Dublin yesterday.

Building materials group CRH,which reported figures earlier this week, had a good day. The company gained 81 cent to close at €24.84, a gain of 3.37 per cent.Investors bought more than 1.8 million shares in the company in Dublin yesterday.

An earlier dip in oil prices helped boost airline Ryanair, dealers said. It added 14.8 cent to close at €3.26, a gain of 4.76 per cent.

AIB added 27 cent to close at €13.29, while Bank of Ireland was up 20.9 cent at €9.15. Volumes in both financial institutions were strong in Dublin, dealers said.

Bookmaker Paddy Power released a statement saying that director David Power holds 4.398 million shares in the company.

Premier Group, meanwhile,reported that it had bought 8.94 million, or 23 per cent, of London-listed company Imprint, which it wants to buy. The shares were bought at 115p sterling.

ISEQ: 6,378.41 (+175.41)

Settlement date: March 10th

Barry O'Halloran

Barry O'Halloran

Barry O’Halloran covers energy, construction, insolvency, and gaming and betting, among other areas