Financials hold ISEQ back

The financials suffered losses this morning as the ISEQ index of shares gained just 7.69 points in early trading to stand at 6156.89.

Irish Life & Permanent suffered the heaviest losses, shedding 20c to €13.40. The bank this morning announced the appointment of former EU Commissioner David Byrne as a non-executive director of the group.

AIB was lost 15c in early trading to €14.75, while Bank of Ireland lost 7c to €11.91.

Anglo Irish, however, bucked the trend, gaining 15c to €17.55 in early trading.

Waterford Wedgewood shares were unchanged at 8c this morning as it announced the terms of its offer for British china company Royal Doulton.

The offer values the whole of the issued share capital of Royal Doulton at about €57.8m.

Waterford Wedgwood currently holds more than 70m shares, which represents over 20% of Royal Doulton. These shares are not part of this morning’s offer.

In other sectors, building materials group CRH was up 9c to €19.84. Meanwhile, pharmaceutical giant Elan gained 20c to €20.80.

Budget carrier Ryanair built on yesterday's gains with a 10c rise to €5.45.

IAWS, AIB, CRH, Irish Life & Permanent and McInerney were the most traded stocks this morning.