ISEQ session high buoyed by construction sector

The ISEQ hit a two-month session high this evening closing up 44 points to 5134 as the weakening dollar did not affect Irish shares, unlike their European counterparts.

The financials closed mainly up. AIB added 5 cent to €13.25, Anglo was 10 cent stronger to €12.85 and Irish L&P was up 3 cents to €13.03. Bank of Ireland fell 1 cent today to €11.29 on busy trading.

The construction sector fared well. Heiton shares climbed nearly 2%, up 8 to €4.35 ahead of its interim results tomorrow and following positive results from Abbey and Grafton last week. CRH added 18 to €16.98 on healthy volume and McInerney was up 20 cent to €5.40. Kingspan gained 11 cent to €4.41.

Iona was a strong mover today, advancing 79 cent to €5.34 as global tech stocks continued to improve.

Bathroom products company Qualceram Shires rose 15 cent to €1.75. The company today announced that Torgyle Holdings no longer has a notifiable interest in company. Ryanair was busy, adding 10 cent to €6.75.

Fallers today included Galen down 15 cent to €10.64 from earlier gains. Hotel group Gresham dived 12 cent to €1.05. Last week the takeover panel set a Friday deadline for a consortium to make an offer for the company.

In London the FTSE 100 index was down 19.80 points to 4,446.50. Supermarket group Sainsburys fell 8.5% to 294 after it reported UK sales growth was just 0.1% in the third quarter, lower than rivals Morrisons and Asda.

The fall in the US dollar against major currencies weighed on the market, as sterling rose above $1.85 for the first time in over 11 years.

Rolls Royce dropped 6.5p to £1.68. Boots fell 11p to £6.61 today following media reports today that the health and beauty retailer is expected to announce 1,000 job cuts at head office on Friday.

Frankfurt's Dax and the CAC in Paris also declined as the weakening dollar hit stocks with US exposure, closing down around 0.5% each.