Market static on GDP/GNP data

THE ISEQ index recovered slightly yesterday after anervous start as investors digested the disappointing GDP/GNP data revealed on Thursday, which showed Q2 growth coming in on the weaker side of expectations.

The exchange gained 4.89 points to 2,690.38.

The financials were mixed with AIB and Bank of Ireland both in decline. The former gave up 2.7c to 0.53c with the latter sliding 0.1c to 0.59c. Irish Life & Permanent bucked the trend adding 5c to €1.43.

In construction, sector heavyweight CRH dropped a further 9c to €12.59. Kingspan advanced 25c to €5.90 while Grafton Group was 3.3c higher at €2.94.

Elsewhere, Ryanair rose 4.1c to €3.81, as it indicated plans to open up routes to some other major European airports in response to slowing growth in the sector. Bookmaker Paddy Power lost 93c to €24.94, while Smurfit Kappa gained 13c to €7.20.