ISEQ drops to end week on low note

IRISH stocks again drifted lower yesterday. Shares in Dublin ended the week 29.11 points lighter at 5329.06.

Budget-carrier Ryanair’s shares fell 28c to €5.10. Shares in hotel group Gresham continued the negative trend. They traded 8c lower after a bid of €1.35 a share for the company was rejected by shareholder Red Sea.

In the financials, Anglo-Irish topped the day’s gainers, up 15c to €13.15. Bank of Ireland eased 2c to €10.52 while rivals AIB dropped 5c to €12.38.

Iona Technologies gained 25c as investors looked for bargains. Construction stocks were lower, with CRH and Grafton falling 7c and 2c respectively. Elsewhere, Eircom edged up 2c to €1.49 and Kerry climbed 10c to €15.90.

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