Iseq up four points in morning trading

The Iseq index of shares has shown a slight rise after Smurfit Kappa reported strong results for the year so far.

The stock exchange climbed 4.91 points, or 0.17%, to 2,956.43 by 11.30am.

The packaging firm reported this morning a third-quarter EBITDA of €192m, 12% ahead of forecasts of €160m to €177m. Their share price has reflected the good news with a 36c increase to €6.30.

However, Tullow Oil saw its stock tumble 33c to €14 despite reporting a strong performance for 2009 in its Interim Management Statement.

There is very little movement in financials with insurance giant FBD Holdings the only significant mover showing a 12c increase to €6.90.

Other big movers were Paddy Power, up 35c to €22.10, shipping group Irish Continental, up 17c to €13.40 and construction firm Grafton Group, up 15c to €3.50.