ISEQ closes first 2004 session on steady note

The Dublin market made firm gains in the first session of 2004 closing in positive territory.

This evening the ISEQ index of shares was up 51 points, or just over 1% , to 4,972.

The banks put in a strong performance. Anglo continued its steady rise, up €0.39 to €12.90. Bank of Ireland gained €0.18 to €11.00. AIB was €0.10 stronger at €12.80 and Irish L&P was down €0.05 to €12.75.

Today is the last day that First Active shares will be traded on the Irish Stock Exchange. Royal Bank of Scotland's €887m takeover of the mortgage bank comes into effect from Monday. The bank's share price fell €0.05 to €6.13 as it prepared to delist.

Other movers included Building group CRH who moved up €0.18 to €16.46, while Readymix shed €0.20 to €1.80. Ryanair recouped earlier losses, ending up €0.06 to €6.65.

The pharmaceutical sector was mixed. Elan reversed earlier gains and fell €0.04 to €5.42. United Drug closed up €0.04 to €2.34 and chemist group Unidare added €0.08 to €1.35.

The blue chip FTSE100 also closed in the black today, recovering early trading losses. The index closed up 0.74%, or 33 points to 4510.

Financial stocks were strong, with banks boosted by data showing UK consumers spent a record £11.56bn on their credit cards in November.

Retailers were unsteady after a profit warning from stationary group WHSmith earlier today. Shares in the group fell 30.5p to £2.45, while HMV dropped 2p to £1.65.