ISEQ growth continues

The ISEQ index continued its steady growth today up 15.87 points on opening to 8009.99.

Irish fruit distribution company Fyffes announced it is to take over the remaining 50% of Danish fresh produce company Lembcke in a move worth €16.8m.

In 2005, Lembcke recorded before-tax profit of €5.8m in the financial year to December 31. Gross assets amounted to €42.3m and shareholders’ funds were €22m at that date.

However, there was no response on the market as yet - Fyffe shares remain unchanged at €1.59.

Irish life and Permanent was the biggest gainer in the financial sector, moving up 23c to €19.80.

Bank of Ireland and Allied Irish Bank lagged behind with a 6c increase for both, up to €14.91 and €20.24 respectively. Anglo Irish Bank inched up 4c to €13.01.

Elsewhere, CRH continued its steady rise since it announced its acquisition of Ashland Paving And Construction yesterday, moving up 10c to €26.70.