UN rift weakens European shares

EUROPEAN shares were weaker yesterday as the UN rift over the second resolution continued to deepen.

However, the Irish market moved against the negative international trend to close 13.97 points higher at 3829.17.

Construction stocks were in focus with the release of Grafton Group’s full year results. Earnings increased by 15% to 38.4 cent in 2002 which represents the 11th consecutive year of growth, led higher by a strong performance from its UK operations. Shares in the company rose 4.8% to 2.83. CRH continued to climb following last week’s good results and the stock added 4% to 13.00.