ISEQ slips into negative territory

The ISEQ index closed the day in negative territory today, slipping 5.56 to close at 5,626.92.

It was another day of mixed fortunes for financial stocks. Allied Irish Bank was unchanged at €13.50, as was Bank of Ireland, which remained at €11.02.

Anglo-Irish Bank shares slipped 18c to €14.85 while Irish Life & Permanent shares were on the rise, climbing 8c to €11.02.

Shares in Unidare continued their upward climb today, rising 30c to €2.30. The board of the company said yesterday results for the year ending September 30 are set to exceed expectations with profits climbing almost €3m from last year.

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 closed today at 36c, down 1c..

Greencore stock fell 7c to €2.80 on the back of an announcement that the company is to merge two of its food divisions.

Pharmaceutical giant Elan bounced back today, leaping 43c to €19.35.

Building materials giant CRH fell 21c to €19.20. Elsewhere Grafton fell 20c to €7.40 while Heiton crept up 2c to €6.80.

Other shares of note today included IAWS, down 33c to €9.86; Iona Technologies was up 30c to €3.10 and DCC was up 34c to €14.70. Ryanair shares fell 6c to €4.01.

The main movers today were CRH, AIB, Bank of Ireland, Ryanair and Anglo-Irish Bank.