AIB main news on ISEQ in morning trade

Allied Irish Bank's interim results were the main story on the ISEQ today. AIB stock rose by 5 cent to €12.50 after a poistive results statement.

Allied Irish Bank's interim results were the main story on the ISEQ today. AIB stock rose by 5 cent to €12.50 after a positive results statement.

The AIB announced pre-tax profits of €699m for the first half of this year, a 10% increase on the figures for the same period last year.

Loans were up by 15% since December 2003, including growth of 13% in home mortgages and growth of 15% in other loans. Customer deposits increased by 7% compared with 3% for the same time last year.

The bank's board declared an interim dividend of €20.9c per share, an increase of 10% on the half-year ended June 30, 2003. The dividend will be paid on September 24, 2004 to shareholders on the company’s register of members at the close of business on August 6, 2004.

In other financial news this morning, Bank of Ireland fell 2 cent to €10.74, while Anglo Irish Bank dropped sharply by 18 cent to €12.92.

Recent market entry C&C Group Plc recorded a small rise of 1 cent to €2.56, while Elan stock fell €1.30 to €16.45.

Ryanair was also making the news, with the announcement of eight new routes linking European airports. Stock rose 3 cent to €4.70.