Building groups buoy ISEQ

The ISEQ was back in positive territory today as it closed up 22.23 at 6419.92.

News from builders merchant Grafton that they expect 2004 trading to be in line with expectations sent up their share price by 43 cent this morning, to €9.10.

Shares at Grafton acquisition target Heiton Holdings remained level at €7.70 on the back of Grafton's comment to day that Heiton performed strongly during its six-month interim period up to October 2004.

Meanwhile, construction products company Kingspan's shares were up 34 cent to €7.60 after the company announced 15.5% sales growth in the first half of 2004. Kingspan said full year sales were expected to be up by more than 18% on 2003.

Shares in mining company Ormonde have remained level after the company announced the completion of a preliminary diamond drilling programme on the Portas Prospect at its Trives Gold Project in northwest Spain.

Building group CRH continued its upwards trend, gaining 33 cent to €20.43.

There were mixed fortunes for the financials. Anglo Irish and Irish Life & Permanent were both down, losing 18 cent and nine cent to €18.70 to €14.12 respectively. AIB was unchanged at €15.50, while Bank of Ireland gained 3c to €12.09.