Bright start for ISEQ
The Irish Stock exchange was in upbeat mood this morning, as the ISEQ index showed a 37.39-point increase to 7538.68 by midday.
The financials reflected the general trend, with all but Anglo Irish Bank (down 1c to €11.44) on the rise. Irish Life & Permanent was the best performer, climbing 25c to €18.05. Allied Irish Bank also did well, up 14c to €18.98, with Bank of Ireland inching up 7c to €14.07.
There was much optimism regarding the construction industry following Bank of Ireland’s quarterly analysis of the property market, which predicted that 2006 will set new house price records. CRH shot up 28c to €25.63, the best performer of the day overall. IAWS (up 10c to €14.25), Abbey (Up 5c to €8.65) and Readymix (up 2c to €2.39) also benefited from the optimistic outlook.
There were strong gains across a variety of different sectors also, with bookmaker Paddy Power leading the way, rising 17c to €13.15. Kerry Group (up 11c to €15.91) FBD (up 10c to €37) and Ryanair (up 9c to €7.83) all fared well in early trading.
The only noteworthy decline of the morning was endured by DCC, who slid 20c to €18.90.
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