Iseq up on mixed day of trading

The Irish market crept up by less than half a per cent in what dealers said earlier was a mixed day’s trade.

The Iseq index of Irish shares was up 0.47 per cent at 3,385.67, ahead of the close after a day where gains in some leading stocks were given up.

Trade was strong early, but dealers said it slipped as US markets opened this afternoon, although they began to make ground as Europe’s bourses were closing.

European markets reflected the same pattern. The Dow Jones Stoxx 600, which tracks leading stocks in 18 western European markets, gained 0.5 per cent to close at 244.22.

In London, the benchmark FTSE 100 added less than 0.2 per cent to end the day at 5142.6.

Building materials group, CRH, which accounts for around on third of the Iseq index, lost ground for the second day running this week, shedding 2.11 per cent or 42.2 cent to close at €19.628.

The banks were once again the focus of investor attention. Dealers said that large numbers of shares changed hands, particularly early in the day.

Bank of Ireland was up over 4 per cent in morning trade, but ended the day 0.62 per cent off at €3.051.

Its biggest rival, AIB, fared worse. The bank gained close to 1.5 per cent in the morning, but shed 2.82 per cent at €3.10.

Mortgage and personal banking specialist, Irish Life & Permanent, outstripped both and closed 9.62 per cent up at €5.70, the strongest performance of the day. The bank has been selling its message to investors through a roadshow.

Low-cost airline, Ryanair, which is holding its annual general meeting later this week, also put in a strong performance, adding 3.97 per cent to close at €3.535.