ISEQ inches up
The ISEQ inched up this morning by 22.10 points to 8478.94 as news that Aer Lingus pilots have acquired additional shares in the former state-owned company in a bid to ward off rival Ryanair gaining a controlling share of the airline.
Union representatives at Aer Lingus also revealed today that are looking a the possibility of using the staff pension fund to be used to buy up shares in the airline.
Union officials reportedly want to acquire up to 6% of shares, which would make it a lot more difficult for the no-frills airline to succeed in its hostile takeover bid.
The move has failed to effect Ryanair shares as they continued to creep forward today by 9c to €8.59. Meanwhile Aer Lingus moved ahead by 3c to €2.93 in the face of the continued uncertainty regarding its future.
On the financial front the banks seem to be promising a bright future for investors with increases in most major institutions. AIB and Anglo Irish Bank climbed 9c and 10c to €21.54 and €13.85 respectively.
Bank of Ireland managed to creep up 3c to €15.54 while IL&P slowed the pace slightly as it dropped 4c to €19.61.
