Financials keep ISEQ in black

The ISEQ index of Irish shares was up 6.82 to 5639.3 in trading this morning.

Financial stocks contributed to the positive trading, with AIB and Bank of Ireland both up, by nine cent and 10 cent respectively.

Anglo Irish Bank bucked the trend by falling nine cent, while Irish Life and Permanent stayed static at €12.75.

There was a cautious response to today's news of net profits at mining and mineral exploration company Arcon. The company made a net profit of €1m in the first half of this year, compared with a €4.9m loss in 2003, and is currently trading (unchanged) at 37 cent.

Greencore stock fell four cent to €2.83 on the back of an announcement that the company is to merge two of its food divisions. Tony Hynes has been appointed to lead the newly-named convenience food division and has relocated to the United Kingdom.

Anne Truelove and Gerry Smith, respectively the current chief executives of Greencore chilled foods and Greencore ambient & frozen, will, as a result, be leaving Greencore.