SHARES broke into record territory with the Overall ISEQ Index passing the 2,300 landmark for the first time. By 11.05 a.m. the index was 12.64 points up at 2311.29. The overall gain was 0.55 per cent. The index ended the day marginally better at 2312.98.
Trading, however, was fairly thin, dealers said. The Irish market shrugged off the downward trend in London and Germany. The Irish upsurge was fuelled by the financial shares which were in good demand.
Heading the field was AIB. In a number of deals it gained 8p to 365p, an all time high. Bank of Ireland also spurted ahead but by just 3p to 465p. Irish Permanent followed with a 2p improvement to 405p. Anglo, however, remained unchanged at 64p.
CRH was a feature. It gained 21p to 479p. Having lost 15p last week, it more than recouped that decline and reached a new high.
The number of companies listed on the exchange was reduced by one yesterday when Statoil the Norwegian state oil company, announced that it had 100 per cent of the Aran Energy equity. So the Aran listing, having been cancelled at 4.30 p.m., will no longer feature in this commentary.
Irish Continental, following its 18.3 per cent rise in profits to £11 million, put on 5p to 475p. The results were better than they appeared and there is a reasonably healthy profit trend for this year.
The company will not have to contend with the exceptional costs associated with moving into France and with the lower margin business, which it has discontinued.
Woodchester fell 2p to 75p. The market was not influenced by the small Portuguese acquisition. Cargeste Sociedade Financeira Para Aquisicoes a Credito, based in Lisbon, will soon be part of the Woodchester group.
Jurys was unchanged at 232p. Mr Jim Culliton, a director, acquired 28,156 shares at 141.7p, each under a share option scheme. He now has 55,636 shares in the hotel company.
Kenmare gained 0.5p to 24p. Yesterday it announced the completion of a placing of 3.7 million shares at 24.5p sterling.
Green, which was previously dealt in at 175p, was traded at 182.5p sterling.
