ISEQ down as Irish operation hold Jurys Doyle back

The ISEQ index of Irish shares finished down 30.53 points to close at 5376.59 on Wednesday.

Bank of Ireland is to sell its Premier Direct Motor arm to Hibernian and Eagle Star, the company announced today.

A cash payment described as having no material effect on the group's finances was part of the deal, but BoI said the asset sale was 'negligible'.

It is expected to go through by June. Shares in the company were down 10c to €10.40.

Hotel group Jurys Doyle said that trading improvements seen towards the second-half of 2003 had continued into Q1 2004.

Chairman Richard Hooper said US and UK trading has been particularly strong and that the group's Irish operations were static and 'holding back' the company's overall performance.

Its shareprice was down 5c to €10.35.

Food group Donegal Creameries recorded pre-tax profits of €5.9m in 2003 - up 2% on 2002 - despite sales dipping to €134.7m. Shares remained at €4.00.

Elan pharmaceutical is to license its NanoCrystal technology to Swiss drug group Roche. Shares in the company rose 5c to €18.85.

Low-fares airline Ryanair is to offer a new short breaks package called 'Ryanair Breaks'. Its shareprice fell 9c to €4.84.