Week ends on firm note but below earlier highs

Shares in Dublin ended the week on a firm note yesterday but below the closing highs established on earlier days

Shares in Dublin ended the week on a firm note yesterday but below the closing highs established on earlier days. The volume of shares traded was relatively thin, while financial stocks were again weakened by profit-taking.

Eircom added four cents on the day to €2.46 after KPN, which holds 21 per cent of the stock, inadvertently released a press statement on Thursday to the effect that it was in the process of firming up the shares. The press release, which was subsequently carried in certain wire reports, was in fact originally issued earlier in the year and does not refer to the position now.

Other stocks making gains included CRH, which was 21 cents stronger at €17.90, Independent News & Media, which added €3.90, €3.93 and DCC, which put on eight cents to €10.18.

The financials largely failed to move higher. AIB was unchanged at €11.90, Bank of Ireland was down 10 cents at €8.20 and Anglo Irish Bank drifted two cents lower to €2.52. First Active, which earlier this week announced a £2.7 million settlement with the Revenue Commissioners in respect of unpaid DIRT plus interest and penalties, was also weaker, closing two cents down at €2.10. Irish Life & Permanent managed to buck the trend, gaining five cents to €11.50.

READ MORE

Other stocks that featured were Elan, which shed 25 cents to €66.50, Marlborough International, which put on 10 cents to €2.10, and McInerney Holdings, which gained 10 cents also to €2.45.

In the food sector, Greencore moved seven cents higher to £2.85, IAWS was five cents better at €7.40 and Kerry gained €14.80. €14.85.