ISEQ boosted by Waterford crystal

The ISEQ-index has made modest gains since opening this morning with a 10.87 point increase at 9368.34, largely due to promising announcements by two of its members, luxury goods company Waterford Wedfgewood and oil exploration company Providence Resources.

The ISEQ-index has made modest gains since opening this morning with a 10.87 point increase at 9368.34, largely due to a promising announcement by luxury goods company Waterford Wedgwood.

Crystal and china maker Waterford Wedgwood today unveiled plans to raise €100m as it looks to continue the revival of the business through a new restructuring programme.

The company, which also owns Royal Doulton, said it would raise the funds through an open offer of preference shares to Waterford’s shareholders.

Its shares have yet to feel the effects experiencing no changes this morning at 6c.

Elsewhere, it seems to be all doom and gloom on the market floor for the for the financial big four.

AIB has plummeted 40c at €21.20, IL&P has also slipped, dropping 37c since this morning at €20.19. Anglo Irish Bank has lost 34c at €15.59 while Bank of Ireland has slowed the downward pace somewhat with losses of just 4c at €15.97.