Market advances on US report

Saturday, December 05, 2009

THE ISEQ index progressed 54.07 points to close at 2,972.30 yesterday.

In the US, employers cut only 11,000 jobs last month, the best showing in almost two years, and the jobless rate edged down to 10%. Analysts had expected non-farm payrolls to drop 130,000 last month and the unemployment rate to hold steady at a 26-year high of 10.2%t.

In the financial sector, AIB dipped 3c to €1.56, Bank of Ireland slipped 4c to €1.65, Irish Life & Permanent advanced 30c to €3.80, while insurance group FBD Holdings was 6.6c down at €6.66.

In the construction sector, housebuilder Abbey reported a profit before tax of €3.6m for the six months to October. The figure compares with a loss of €5.39m for the same period last year. The shares rose 40c to €4.80.CRH jumped 80c to €18.40, Kingspan added 4c to €6.50, while Grafton Group was 2c worse at €3.08.

This story appeared in the printed version of the Irish Examiner Saturday, December 05, 2009