Iseq falls despite DCC and Kerry gains

The Dublin stock exchange has seen its stock fall this morning.

By 11am, the Iseq was down 25.65 points to 6,806.25, despite a 72c rise by DCC to €19.13. The business support firm this morning announced a share capital reorganisation of its Manor Park Homebuilders. The reorganisation means DCC has received a dividend of €172m from Manor Park resulting in an overall group exceptional profit of about €25m for the year.

Another riser was Kerry Group, who gained 20c to stand at €22.70, after the group announced the acquisition of QA Products unit from Dutch food group CSM.

However, food rivals Greencore and IAWS both saw their stock veer downwards by 14c and 16c to €4.61 and €14.65 respectively.

Construction rivals, CRH and Kingspan also stumbled this morning. CRH saw its stock go down 26c to €23.69, while Kingspan had a 21c decrease to €10.31.

The financials couldn't help matters for the Iseq as all the major banks experienced declines in their share prices. AIB were down 15c to €15 and Anglo Irish Bank were down four cents to 10.65. Both the Bank of Ireland and Irish Life and Permanent slipped by 10c to stand at €9.80 and €11.95 respectively.