ISEQ moves up to 5571.94
The ISEQ index of Irish shares climbed by 8.96 points in morning trading today, up to 5571.94.
Market news centred on interim results announcements from Jurys Doyle Hotel Group and Kingspan. Each reported profits, though at different levels.
Strong sales of Kingspan products pushed up profits by 32.5% to €37.5m for the first half of 2004, up from €28.3m in the first half of 2003.
Sales of Kingspan products drove the profits increase. Sales jumped 18.5% in Ireland, 11.2% in Britain and Northern Ireland, 30.2% in mainland Europe and 33.6% in the US.
Jurys Doyle pre-tax profits were up 1.5% on the same period last year. Before-tax profits were €21.96m, up from €21.64m in the same period last year (six months to end-June). The company's four-star hotels reported a revenues decline, which was offset by the performance of the five-star hotels and Jurys Inn properties.
Most traded stocks this morning included CRH (up 19 cent to €19.29), C&C (up one cent to €2.44) and eircom (level at €1.48). Bank of Ireland (down three cent to €11.22) and AIB (down two cent to €13.20) were also among the most traded stocks.
