DCC falls on ISEQ

Business support services group DCC fell 29c to €15.61 despite the announcement that it has been successful in the Hsinchu District Court in Taiwan in its proceedings against Phisiang Machinery Manufacturing Company, its Chairman Donald Wu and his wife Jenny Wu.

The court has ordered that a London High Court judgement in January 2004 against the Taiwanese company be enforced there.

The ruling means that Pihsiang Machinery Manufacturing Company and Wu must pay DCC a total of £14m (€20.5m) in damages along with interest of £1.8m (€2.6m).

The ISEQ index of Irish shares was down 47.63 points to 6846.43 by 11am this morning.

The the financials lost ground this morning. Anglo Irish Bank suffered the heaviest losses, falling 17c to €11.60. AIB fell 13c to €18.07, Bank of Ireland fell 10c to €13.05 and Irish Life and Permanent fell 4c to €15.41.

Low-budget airline Ryanair fell 13c to €7.30.

Construction company CRH was one of only a few stocks that saw positive gains, rising 8c to €22.65.

Pharmaceutical company Elan fell 23c to €8.85.