THE ISEQ was largely unmoved yesterday, technically falling marginally by 0.6%, or just over 17 points, to 3,070 points, broadly in line with its European counterparts ahead of US job data likely to illustrate the true health of the world’s leading economy.
It is hoped the latest US employment report – due later today – will signal a strengthening in the country’s economic recovery.
Certainly, it seemed that European markets were holding their collective breaths yesterday – London’s FTSE was down slightly by three points to 5,527; the DAX in Frankfurt, down 15 at 6,034, and Paris’ CAC up seven at just over 4,000 points.
Asian markets were also down, yesterday, ahead of the latest US data while the main American markets, themselves, were volatile in early trading.
Kingspan (up 32c, nearly 5%, at €6.80), FBD Insurance (up 15c at €7.15) and DCC (up 47c at €21.03), were amongst the highest climbers in Dublin, on a relatively quiet day of trading. Despite more negative news from the US regarding side effects from use of the multiple sclerosis drug, Tysabri, its co-owner Elan added 16c to its share price, closing at €5.20.
However, fallers included Paddy Power – which shed 25c to close at €25 – Kerry Group, which was down 38c at €21.02; drinks group C&C, which fell by nearly 5% to €2.80; Ryanair, down 7c at €3.46, and building materials giant, CRH, which was down by over 2%, or 39c, at €17.90.
It was a positive enough day for the banks, however, with their early new year momentum continuing, albeit at a relatively slow pace.
Bank of Ireland was up by 1.12% – or 2c – at €1.71, AIB rose by 2.48%, or 4c, to €1.65, and Irish Life & Permanent (IL&P) closed at €3.53 – representing a daily increase of 2c, or just under 0.6%.
a d v e r t i s e m e n t
This appeared in the printed version of the Irish Examiner Friday, January 08, 2010
