ISEQ closes unchanged as financials lag

The ISEQ was flat this evening at 5,278, slightly dipping into negative territory, down 0.65 points.

The financials were busy. Most closed down on the week's rally following rumors that Citigroup was looking to Europe for an acquisition.

AIB fell 28c to €13.62. Bank of Ireland was down 10 to €11.70. Irish L&P shed 6 cent to €13.59 and Anglo was the only riser here, adding 16 cent to €13.56 as investors looked forward to an update statement due next week.

Gresham Hotel Group said today the unnamed consortium that made an approach for the company has now dropped the 80 % acceptance pre-condition.

The Irish Takeover Panel said today it agreed to the consortium's request to extend the deadline for making a bid for the hotel group until Jan 30 from Jan 16. Shares closed up 17%, or 18 cent, to €1.23 on busy volume of 1.4 m shares traded.

United Drug closed up 6 cent to €2.36. Chairman, Martin Rafferty, said today he had bought 1 million shares this week.

Waterford Wedgewood was busy, up 2 cent to €0.27.

Other movers included housebuilder Abbey, up 20 cent following an upgrade from Goodbody for its full year 2004 forecasts.

Ryanair was busy, up 27 cent to €7.25 and Fyffes dropped 4 cent to €1.76.

The FTSE100 in London closed higher, up 0.7%, buoyed by a positive start on Wall Street, where stocks rose in the wake of better than expected US consumer confidence data.

The University of Michigan said its consumer sentiment index rose to 103.2 in January from 92.6 in December, well ahead of forecasts for a reading of 94.0.

On the currency markets, the euro dipped against the dollar to a four-week low of $1.2385 as the consumer confidence news boosted the dollar.