IAWS acquisition keeps ISEQ in the positive
Dublin's stock exchange has risen by just over six points by 11am this morning to 6117.64 as food group IAWS offsets the negative trend elsewhere.
IAWS had announced the acquisition of Groupe Hubert for €130m this morning.
The purchase of the bakery products developer in France has lead to a 40c increase in their share price so that they stand at €11.65.
However share prices elsewhere were going down, notably at concrete products group Readymix who had a profits warning late on Friday.
The group warned that profits for 2004 would be 'substantially below' market expectations after a drop in margins in the third quarter had grown worse in the final quarter.
Their price is down 27c to €1.58.
Other major fallers are pharmaceutical firm Elan (down 25c to €20.90) and Jurys Hotel Group (down 20c to €11.80). Iona Technologies and Paddy Power both fell 10c to €3.80 and €10.75 respectively.
The financials fared little better with Anglo Irish Bank down eight cents to €17.50 and Irish Life and Permanent down five cents to €13.10. Both the AIB, up two cents, and Bank of Ireland, up seven cents, were in the positive to stand at €14.87 and €11.72 respectively.
