ISEQ off to slow start

The ISEQ index of Irish shares has got off to a relatively slow start this morning reporting a 12.89 increase at 9847.78 by 11.15am.

News that property group Blackrock International has doubled assets in its first seven months as a listed company has yet to affect shares.

The Fyffe's property arm reported pre-tax profits of €13.9m for the period. Its property assets for the same period are up 87% to €369m as a result of investments and increases in value.

Blackrock chairman Carl McCann said the group's gross assets have doubled since it started operations, including the transactions announced but not yet completed.

Blackrock said it is planning to invest €200m over the next one to two years.

However, shares are yet to feel the effects as prices slipped by 1c this morning at 57c per share.

Elsewhere banks have also had a slow morning with gains of just 3 and 7c for AIB and Anglo Irish banks at €23.43 and €16.40 respectively.

Bank of Ireland and IL&P both reported losses. IL&P fell 10c at €22.10 while Bank of Ireland dropped 5c at €18.15.