Building group Grafton has confirmed trading in the first four months of the year has been in line with expectations.

THE number of merger transactions notified to the Competition Authority in 2004 rose to 81 from 47 the previous year, according to a study by law firm McCann FitzGerald.

The ISEQ slipped into the red today, falling 59.50 to 6,156,50, with banking stocks all tumbling in trading.

The ISEQ fell 16.37 points to 6199.63 in morning trade today, despite healthy profits announcements from building company Grafton and insurer FBD Holdings.

Pre-tax profits at building company Grafton were 29% higher at €131.9m in 2004. Turnover in Ireland increased by 25% to €1.9bn while there was a 28% rise in UK turnover to over €1.4bn.

THE strengthened Grafton Group is expected to report solid profits for 2004 with no surprises in store for the markets.

MERGERS and acquisition deals involving Irish companies soared in 2004 to €10.4 billion, up 33%.

The construction sector contributed to a good day for Dublin's stock exchange which ended the day up 37.06 points at 6,552.01.

The ISEQ was back in positive territory today as it closed up 22.23 at 6419.92.

News from builders merchant Grafton that they expect 2004 trading to be in line with expectations sent up their share price by 38 cent this morning, to €9.05.

Builders merchants Grafton - who have received approval to purchanse rival Heitons - have said trading in both Ireland and the UK is in line with their expectations.

SHARES in Dublin fell for the first day in four. The ISEQ fell 23.21 points to finish at 6397.69 at the closing bell.

The ISEQ failed to build on yesterday's gains as it closed down 19.84 points at 6397.69 today.

The ISEQ is staying in positive territory - just - after morning trade saw it 1.82 points up, to 6419.35 , at lunchtime.

SHARES in Grafton surged 8% yesterday after the building materials and DIY group finally got the go-ahead for its takeover of smaller rival Heiton.

The ISEQ closed up 60.54 points this evening, at 6373.05.

The board of building group Grafton has announced that all conditions of its proposed €336m acquisition offer for Heiton Holdings have now either been satisfied or waived. The offer has therefore been declared unconditional in all respects.

The Irish Takeover Panel has extended the deadline for the takeover of building materials and DIY group Heiton by larger rival Grafton.

The ISEQ has closed the week on a slightly negative note, slipping back 15.04 to finish the day at 6,174.49.

The ISEQ index was up 16c at the end of the day at 6189.53.

ON a bullish day across Europe, shares in Dublin advanced for the second day.

Weakness in the US dollar and a bad day for the financials and Elan meant Dublin's stock exchange stood at 5,973.86 by the end of the day, down 67.32 points.

The ISEQ index has begun the week on a positive note today, closing this evening up 33.83 to 6.041.18.

The ISEQ index ended the week with a slight increase of 6.93 points to 6,016.90, after a mixed day for stocks.

Builders Grafton Group said the date by which all the conditions of its offer for Heiton Holdings must be satisfied has been extended from November 29 to December 20.

The ISEQ took a hit of 52.75 points to finish at 6010.37.

THE state competition watchdog is to carry out a full investigation into builders merchants and DIY group Grafton’s takeover of rival Heiton.

The ISEQ index surged into positive territory today, closing up 18.07 to end the day at 6,064.02, with construction stocks particularly strong.

SHARES in Dublin rose for the seventh day in eight with the financial heavyweights and construction giants CRH leading the charge. The ISEQ climbed 4.54 to 5977.02.

SHARES in Dublin rebounded from yesterday’s fall, mirroring gains across European bourses. The ISEQ Index firmed 18.05 points to 5606.96, advancing for the third day in four.

The ISEQ ended the week on a negative note today as it fell 7.15 points to 5586.04, with the biggest falls recorded by building group Abbey and pharmaceutical firm Warner Chilcott.

BUILDING materials group Grafton moved a step closer to clinching its takeover of rival Heiton yesterday when it said more than 80% of shareholders were in favour of the deal.

Dublin's Iseq managed to rally today among some big gains.

Financial stocks failed to rally in Dublin today, spelling a morning in the red for the ISEQ index.

Building materials group Grafton has announced that almost 54% of Heiton share owners had accepted Grafton's €336m bid for the company by the first closing date yesterday.

The ISEQ index closed the day in negative territory today, slipping 5.56 to close at 5,626.92.

The ISEQ index of Irish shares closed slightly down after the opening trading of the week, slipping 7.09 to 5,632,.48.

THE construction industry continues to beat expectations and good times are in store for investors in stocks, stockbroker Davy said yesterday.

BUILDING materials group Grafton turned in another strong performance yesterday as it reported a 30% hike in profits for the six months to June.

The ISEQ index of Irish shares has risen 14.91 points today to end the week at 5,557.08.

SHARES in Dublin edged higher for the second day in succession. On a good day for European bourses in general, the ISEQ firmed 21.20 points to 5469.33.

ON a thin day’s trading, shares in Dublin edged into positive territory. After a bout of profit taking early in the day, the ISEQ nudged 13.13 points to 5396.24.