The Iseq index of leading shares followed other European markets into negative territory in trading today.
By 1.23 pm the Iseq was down 3.05 points at 2665.28 despite the issuing of results from a number of Irish firms including Grafton, Kerry and Irish Life & Permanent.
IL&P was among the bgi gainers this morning. Its shares were up 2.8 per cent to €1.42 after it announced its operating loss narrowed by 80 per cent from €51 million to €10 million in the first half of the year.
The group attributed the improvement in its financial performance on a significant recovery in the performance of its Irish Life businesses.
Other banking stocks performed less well with Bank of Ireland down 2.7 per cent to €0.72 and AIB down 5.5 per cent at €0.72.
DIY and builders’ merchants specialist Grafton, which reported a €14.8 million first-half operating profit this morning, saw its shares rise by 4.7 per cent to €2.67.
Elsewhere, Kerry Group, which today announced pre-tax profits of €162.3 million for the first six months of the year, saw its share price rise 3.8 per cent to €25.54.
Financial services provider IFG was unchanged at €1.15 after it posted first-half revenues which rose 16 per cent to €57.4 million.
European shares fell in early trade and remain on track to end the month lower as growing concerns about the pace of global economic recovery kept investors on the sidelines.
Across Europe, Britain's FTSE 100, Germany's DAX and France's CAC 40 fell between 1 and 1.2 per cent.
Additional reporting: Reuters
