ISEQ starts week on the back foot

The ISEQ index of Irish shares has begun the week on the back foot down 39.02 points to 9,679.7.

The main mover of the day was Independent News and Media, following the announcement that it had completed the €2.3bn takeover of Australasian media group APN.

This morning the company recorded an increase of 4c to €3.34 in the aftermath of the takeover. Following the afternoon’s trading, however, the price per share had returned to €3.30 where it had been at the beginning of the day’s business.

Icon Plc made the biggest gain of the day, jumping €1.33 to €30.34. The biggest loser was Kenmare Resources, falling 2c to 70c.

The poor morning experienced by the financial institutions abated slightly in the afternoon.

AIB ended the day at €23.10, down 15c on yesterday, while Bank of Ireland recovered the 20c it dropped this morning to hold steady at €17.90.

Anglo Irish finished the day at €16.09, having earlier dropped as low as €16.

IL&P continued its bad day, eventually falling 35c to €21.65.