ISEQ up slightly

The ISEQ fell slightly in morning trade, by 1.44 points to 6276.84 on a busy news morning on the index.

Shares in technology group Horizon rose 2c to €1.22 after the company announced an increase in gross profits of 13% to €32.7m in 2004, thanks in large part to the strength of their Irish operations.

Fruit distribution company Fyffes' announcement of a 32.2% jump in profits to €94.7m, before exceptional items and goodwill amortisation was not enough to stem a 7c fall to €2.18.

Exploration and mining group Arcon said today that agreement has been reached in principle on the terms of a merger with Lundin Mining. The market responded this morning with a 2c fall in Arcon's share value to 55c.

Meanwhile, storage company Norish has announced pre-tax profits of £300,000 (€435,500) for 2004, compared to pre-tax losses of £400,000 (€581,000) after exceptional items of £600,000 (€871,000) for last year.

Anglo Irish Bank made the largest gains among the financials, up 18c to €20.28.

Bank of Ireland rose 5c to €13.06 while AIB was up 2c to €16.27. Irish Life and Permanent fell 5c to €14.80.