CRH pulls Iseq higher

The Iseq is in positive territory for the day with index heavyweight CRH among those making early gains.

The Iseq is in positive territory for the day with index heavyweight CRH among those making early gains.

The Dublin index is trading up almost 6 points at 2,681.04 this lunchtime.

Building materials group CRH, which is to sell its insulation division to Kingspan for some €120 million, added 30 cent this morning, rising to €13.35.

NCB rated CRH at buy following comments suggesting its dividend will be maintained this year.

Kingspan is trading down following the release of an interim statement this morning which said operating profit was line with expectations but that margin pressure was likely to persist.

Shares in Kingspan were trading at just under €5.89 at lunchtime, down 13 cent for the session.

Bank shares continue to experience tough times with Bank of Ireland among the biggest losers this morning. Shares in BoI shed 4.4 per cent to €0.39.

The bank is attracting negative sentiment following the release of an interim statement on Friday. The statement pointed to increased costs due to the Government guarantee and a flight of deposits which weakened the bank's funding position.

AIB had a similar start to the day, shedding 3.6 per cent, falling to €0.37.

However, Irish Life and Permanent gained 2.3 per cent this morning, rising to €0.89.

Elsewhere, the FTSE 100 was up 7.67 points, or 0.1 per cent, at 5,804.54, bouncing back somewhat having closed down 0.3 per cent at 5,796.87 on Friday.

The Stoxx 600 advanced 0.4 percent to 271.13 at 12.41 pm in London as all but one out of 19 industry groups gained.

Steven Carroll

Steven Carroll

Steven Carroll is an Assistant News Editor with The Irish Times