Positive market trumps peers

European bourses were for the most part weaker yesterday on weaker-than-expected Chinese trade data for July.

US markets also had the jitters and were slightly off at the European close. The ISEQ index managed to buck this trend, finishing the session up 13.01 points at 3,240.61.

Irish financials were mixed as AIB tacked on 0.1c to 5.1c while Permanent TSB Group closed unchanged at 2.1c. Bank of Ireland fell 3% at 9.5c, having been down by 7%. The bank reported first-half 2012 numbers which disappointed the market with lower-than-expected revenues and higher than forecast costs.

Construction stocks were equally mixed. CRH shed 2.5c to €15.89 with Grafton remaining steady at €2.98 while Kingspan added 33.4c or almost 5% to €7.08.

Kerry Group continued its strong momentum after Thursday’s results. The share price improved a further 50c to €39.


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