ISEQ falls despite strong Kingspan showing
The ISEQ has started the week on a negative note, despite huge gains for construction group Kingspan.
The ISEQ slipped 22.78 today to close at 6,061.52.
The fall came despite a very strong day for Co Cavan based Kingspan. Kinspan has bought the building firm Century Homes in a deal worth €98m. Shares in Kingspan have soared by 60c today to €9.45.
But financial stocks fared poorly today. Allied Irish Bank shares slipped 8c to €15.55 while Bank of Ireland shares fell 20c to €12.40.
Anglo Irish Bank shares fell 16c to €19.93 while Irish Life & Permanent shares also fell, down 3c to €14.43.
Elsewhere agribusiness giant IAWS announced an increase of 23% in pre tax profits for the six months up to January 31, 2005.
The group's profits were at €42.8m as compared to €34.8m for the same period in the previous year.
Shares in IAWS climbed 8c to €11.86 today.
Business support services group DCC was a major faller today, with shares dropping 30c to €17.40.
Waterford Wedgewood shares are at 4c today after chief executive Redmond O’Donoghue said the company needed to cut costs in its operations in Ireland and Germany, which may mean reducing staff numbers.
The most traded shares today were AIB, Bank of Ireland, CRH, Anglo Irish Bank and eircom.
