Market makes moderate advance

The Iseq index gained slightly on light volumes yesterday as the US celebrated Labor Day. The Irish exchange ended the first session of the week with an increase of 9.8 points to 3,170.59.

Financial stocks advanced overall with AIB and Bank of Ireland adding 0.1c to 5.1c and 8.9c. Permanent TSB Group Holdings gained 0.6c to 3c while insurer FBD saw a rise of 5.6c to €9.01.

Construction stocks had a mixed day with CRH and Kingspan falling into the red. The former gave up 2.5c to €14 while the latter shed 4.4c to €7.80. Grafton bucked the trend with a rise of 11c to €3.13.

Elsewhere, paper and packaging firm Smurfit Kappa advanced 21.9c to €6.70 after announcing a €28m investment in its facility in Spain which will increase output by 25%. Fyffes was another notable mover climbing 3c to 50c. The fruit importer produced a very strong set of interim results prompting the company to lift its full-year guidance to an adjusted EBITA range of €28-€33m.