The Market Comment
10th March 2010Wednesday was a relatively quiet day for volumes on the Irish market with Paddy Power chief among the laggards. The ISEQ index as a result traded within a narrow range and finished barely ahead, gaining 5.9 points to 3014.63.
The Irish financials had a mixed day as both our leading banks managed to put in solid performances after the previous two day's losses. The state's largest bank AIB added over 3 percent or 4.5c to 1.37, while Bank of Ireland tacked on 2.4c to 1.158. Irish Life and Permanent finished level at 3.09.
The construction sector had an equally mixed day as market heavyweight CRH gave up 11.4c to 17.836, despite positive signs emerged from the US on capital expenditure and stimulus. Kingspan and Grafton Group both went the opposite direction, gaining 23.5c and 6.7c to 3.00 and 5.699.
In other news, Smurfit Kappa moved on almost 5 percent to 6.253, while bookmaker Paddy Power fell 60c to 23.16 ahead of next week’s Cheltenham festival.
