Speculation boosts IAWS shares

IRISH stocks rose yesterday ending the day up 10.10 at 5316.29.

Budget airline Ryanair had its biggest drop in a month after rival EasyJet said fare cuts and rising fuel prices may hurt earnings. Ryanair shares fell 16 cent to €4.53.

“Fuel costs may crimp fiscal 2004 earnings by £4 million and the increasingly competitive nature of the European airline market may have a bearing on the growth in profits,” said EasyJet chief executive Ray Webster.