Market falls further behind

IRISH shares lost further ground on a busy week for corporate news flow. At the closing bell the ISEQ finished 11.71 points lower at 6216.00.

The construction sector took centre stage with the main focus on Kingspan, which reported a 34% rise in full-year pre-tax profits. The firm reported strong performance across the board and ended the day 28c higher at €8.84. Sector leaders CRH finished 10c higher, while Grafton eased 5c ahead of Wednesday’s year-end results.

AIB and Bank of Ireland fell 17c and 8c respectively, while on the second line Anglo-Irish gave up 15c. IL&P weakened 5c as investors digest the company’s year-end results. Jury’s Doyle gave up 5c following Monday’s 2004 figures, while Ryanair dropped 2c. Elan firmed 44c on solid trading.