Construction stocks mixed as interest rates impact UK house prices

The Iseq index was up 3.85 to 5456.75 this morning.

AIB was up 2c to €12.72 while Anglo Irish was down 12c to €12.80 with BOI up 1c to €10.91.

Kerry Group said its McCormicks subsidiary was ahead of schedule. Despite this Kerry was down 20c to €17.40 in early trade.

Construction groups Abbey and McInerney were up 5c to €8.35 and static at €5.20 respectively as higher interest rates in the UK were slowing house price inflation.

Pharmaceutical firm Elan recovered some of yesterday's lost ground up 20c to €20.40.

Ryanair was down 7c to €4.55 despite yesterday's fare and route flexibility announcements.

Kenmare remained static at 24c as Chairman Charles Carvill says their funding deal was close but warns of consequences if not met.