ISEQ in line with European bourses

THE ISEQ index gained 32.24 points to close at 2,470.30, in line with European bourses.

The US market opened lower, as investors took profits after Tuesday’s rally. US manufactured goods rose more than expected in July.

In the financial sector, FBD produced operating profit of €26.5m for the first half of 2011, helped by a better claims performance in particular. Shares in the insurance group closed up 25c at 6.35. Bank of Ireland was unchanged at 8.9c. AIB added 0.1c to 5.6c, while Irish Life & Permanent was unchanged at 3c.

In the construction sector, CRH advanced 36c to 11.51. Grafton Group increased 3c to 2.68, while Kingspan slipped 6.3c to 6.047.

In other news, Glanbia upgraded its full-year guidance in yesterday’s interim statement to 18%-20% earnings per share growth on a constant currency basis. Cheese profits were also higher in H1 and Dairy Ireland saw a very strong rise in sales and profits. Share in the food group closed 11.5c better at 4.17.