Slow start for ISEQ

It has been an uneventful morning for the ISEQ index.

Most listed companies experienced little in the way of activity with both Aer Lingus and Ryanair remaining static at €2.86 and €8.71 respectively.

Ryanair has confirmed its takeover offer for Aer Lingus on the Dublin and London stock exchanges this morning but most investors seem to be lying in wait for a response to the news.

The offer document relating to Ryanair's all-cash offer of €2.80 per Aer Lingus share is being posted to Aer Lingus shareholders today. The overall bid is worth almost €1.5bn.

Ryanair said yesterday that it will not increase the offer of €2.80 per share for Aer Lingus.

However, the no-free-frills airline said it will offer a tax-efficient way for members of the Aer Lingus employee share ownership trust (ESOT) to take up the Ryanair share offer.

Most construction and building material firms also remained unchanged except for a 10c jump at CRH to €27.42 recording the only blip on the radar.

The main movers and shakers this morning were to be found in the financial quarter where Anglo Irish Bank and Bank of Ireland climbed 8c and 13c to €13.98 and €19.15 respectively.

AIB managed to drop 13c, levelling off at €21while IL&P kept an even keel at €19.15.