ISEQ marches on
The ISEQ index marched ahead today despite continued uncertainty over the future of its most recent newcomer.
Aer Lingus shares only managed a mere 1c increase to €2.89 as bidders continue to grapple for a controlling share of the former state-owned company.
In the face of competition from Irish millionaire Denis O'Brien, Ryanair bosses today said they were confident of completing the audacious takeover of their arch rival despite the loose alliance of shareholders clubbing together to fight the move.
The budget airline’s deputy chief executive Michael Cawley claimed that more than one third of Ireland’s former national flag carrier was still up for grabs.
“We’re still looking at 54-55% of the shares, including our own 19%, in hands of people who have not declared their position,” he said.
“We’re still in a position to gain a majority share.”
Mr O'Leary's confidence was no where to be seen on the financial front however as meagre earnings were reported by most institutions. Bank of Ireland slipped by 5c to €15.80 while IL&P plummeted 14c by close to €19.26.
AIB upped the ante slightly with a 9c gain making the bank's shares €21.15c each while Anglo Irish bank only managed a mere 1c increase to €13.85.
