ISEQ hits highest 2012 closing level

The ISEQ index made ground yesterday, adding 27.17 points to close the week at 3266.16.

This represents a gain of 2.4% on the previous week and the highest closing level in 2012.

Bank stocks were weak, with AIB and Bank of Ireland dropping 0.2c to 12.3c and 0.1c to 13.7c respectively. IL&P followed, slipping 0.2c to finish the week at 4.5c. Insurance group FBD Holdings was 30c ahead at 8.90.

Construction stocks finished the week on a positive note. CRH and Grafton Group were up 6.5c and 1c respectively, to end the week at 16.345 and 3.44. Kingspan gained 2c to 8.17.

Paper and packaging firm Smurfit Kappa dropped 4.4%, after announcing a placing of 21.6m shares to institutional investors at €7.30 per share. The share price dipped 34c to 7.36.