ISEQ down as Ryanair stock soars
Ryanair was one of the few winners on the Dublin market today as the low cost carrier's shares jumped by almost 10% despite a fall in profits.
Ryanair this morning unveiled a 26% fall in third-quarter net profits to €35m (£24m) after it was affected by record fuel prices and intense competition.
The airline warned that fuel costs would continue to impact it in the future but added that it was still growing “strongly and profitably” in spite of the adverse market conditions. However, Ryanair's share price closed up 46c at €6.31 today.
It was a lacklustre for the ISEQ index overall, however, as it fell back 46 points to 6414.29.
The financials were badly hit. Bank of Ireland closed down 30c at €12.10. Anglo Irish shed 22c to €18.70, while AIB dropped 8c to €15.25. Irish Life & Permanent also suffered, closing down 25c at €13.75.
Shares in mining company Ormonde stayed level at 15 cent after the company announced the acquisition of several advanced gold properties in the Salamanca area of western Spain.
