Iseq continues to gain ground

The Iseq Index continued to gain ground despite data released which showed employment levels are continuing to decline, falling a further 0.8% quarter-on-quarter on a seasonally adjusted basis in Q2. The Irish Exchange climbed 41.4 points to 3323.0.

Banking stocks were weaker overall. Bank of Ireland dipped by 0.1c to 9.8c, AIB gave up 0.6c to 5.4c, while Permanent TSB Group eased back 0.4c to 2.5c. Insurer FBD Holdings held steady at €9.80.

In construction, sector heavyweight CRH tacked on 26.5c to €15.53. Apogee (a peer of CRH’s US glass operations reported Q2 earnings of $0.17 ahead of general consensus). Kingspan by contrast shed 29c to €7.81 with Grafton Group also in decline dropping 6.3c to €3.30.

Elsewhere, DCC gave up 19c to €21.83. Management of NWF Group, a small peer of DCC’s energy business in the UK, has noted in its AGM statement that its fuel business performed as planned across the summer months.