Modest gains despite positive news

The ISEQ index closed marginally higher despite positive news from AIB, Ryanair and Elan.

The Dublin Exchange closed 19.68 points up at 7,526.86.

AIB announced better-than-expected results in the interim statement and the share price rose 29c to €19.22. There was a knock-on to Bank of Ireland’s share price, seeing the stock rise 16c to €13.96. Anglo Irish fell 3c to €11.39 and Irish Life & Permanent added 10c to €18.15.

In the construction sector Grafton gained 30c to 10.27 on the back of a set of strong interim results from its British competitor Travis Perkins. Kingspan moved 10c ahead to €13.09 while CRH was unchanged at €25.20.

Ryanair weakened 25c to €7.54 despite reporting a record 66% rise in net income in the first half of 2006. Elan was down 3c to €11.39.