Mixed financials as ISEQ closes up

Dublin's ISEQ index closed up 14 points today to 5181.77 in a mixed day for financials.

AIB shares continued to rise, albeit slowly, by 2c to €11.72 despite the overcharging scandal and Anglo Irish Bank also rose by a more impressive 18c to €12.91. Fallers were Bank of Ireland, down 4c to €9.83, and Irish Life and Permanent who decreased by 5c to €12.35

Despite buying Alexander Developments, an independent house-building firm in the UK for £8.75m (€13m), McInerney Holdings shares fell 12c to €4.53. However, both Grafton and CRH enjoyed growth today as they both recorded 14c and 15c rises respectivels to finish at €17.47 and €5.95.

Exploration company Providence Resources saw no change in its price of 4c after it announced that it had completed a site survey on the Blackrock Prospect in the Irish Celtic Sea which the firm hopes will keep them on schedule to have a drilling rig by July.

Media giant, Independent News and Media, saw its shares go up 4c to €1.94 after the National Union of Journalists voted against strike action at the newspapers as part of a dispute over restructuring plans.

The newspaper group is seeking 205 “voluntary” redundancies under the restructuring plan, but has threatened to sack workers if they do not accept the generous packages on offer.

In London, the Footsie ended a difficult week on a stable footing today as the FTSE 100 Index closed 2.7 points ahead at 4431.4.

Mining stocks Rio Tinto, BHP Billiton, Xstrata and Anglo American all managed gains of 2% or more to help the index to its rise.

And Wall Street opened on the front foot.

New York shares gave London breathing space by opening in positive fashion going ahead 64 points to 10,002.22 at 6pm, while the Nasdaq was also positive, rising 12.45 to 1409.32.