ISEQ stays in positive territory but fails to inspire confidence

DESPITE lacklustre performances across the markets yesterday the ISEQ 100 Index managed to stay in positive territory ending its first February session up a modest fraction at 0.2%.

The market got a few welcome boosts, with Ryanair up more than 3%, despite posting substantial third quarter losses of more than €100m.

Having raised its full-year outlook to a profit of between €50m and €80m, due to lower fuel costs, and cheered the market further with the promise of further substantial profits next year as travellers trade down in the recession, Ryanair’s shares got a welcome boost from the positive soundings for future earnings.