Market debut sees Aer Lingus price climb 8%
Aer Lingus enjoyed a positive debut on the Irish stock exchange as it saw its share price jump 18c to €2.38 today.
Official trading starts on October 2. The Government is set to receive €200m from the sale, as well as retaining a 28% stake.
Overall the ISEQ showed a modest rise of 1.64 points to 8172.5.
Irish Life & Permanent was the only climber in the financials as they saw their stock soar 27c to €19.53. Elsewhere in the financial sector, Bank of Ireland stumbled to a six cent fall at €15.28 while Anglo Irish Bank fell nine cents to €12.75. Allied Irish Banks (down 6c to €20.81) said today that no disciplinary action is to be taken against officials in the bank over the foreign exchange overcharging scandal.
But the financial giant confirmed the controversy had run up a bill of €65.8m including repayments to customers, interest and a €20.6m donation to charity.
This compares to profits of €1.7bn for 2005.
Heavy trading in the construction sector, saw CRH slide 18c to €12.67 and rivals McInerney Holdings tumble 14c to €12.90.
Other major falls came in the food sector as IAWS slumped 16c to €14.70, the same as Greencore who stood at €3.78. Rivals, Kerry Group, climbed 19c to ebd the day at €18.60.
There were other successes, especially at FBD who enjoyed a positive day, shooting up 33c to €37.58, while Paddy Power also continued its recent good run, rising 27c to €15.
Elsewhere, AGI Therapeutics and Tullow Oil both saw their stock rise 17c to €1.89 and €5.32 respectively.
DCC climbed 15c to €19.70.
