Iseq tumbles with few positives
It was a day to forget for Dublin's stock exchange as the Iseq index of shares fell 47.28 points to 5,587.91 with most stocks losing value.
The biggest faller of the day was shipping group Irish Continental, whose share price collapsed 48c to €10.00.
Tullow Oil was down 15c at €1.98 after releasing an update to shareholders today on the development of its wells.
Ryanair lost 20c finding its price at €3.62, despite being named Europe’s most punctual airline by the UK’s Civil Aviation Authority.
Business support services company DCC was heavily-traded, and dropped 11c to €15.24 and Iona Technologies also recorded a fall, this time of 20c, to stand at €3.35.
Financials, construction and the pharmaceutical sector were all in the negative today.
It was a busy day's trading for all the banks, but that couldn't help any of them into positive territory by the end of the day.
Anglo Irish Bank lost the most, 19c, to end at €15.20 while Allied Irish Bank were down 11c to €13.70.
Irish Life and Permanent were close behind with a 10c fall to €12.90 and Bank of Ireland fell 4c to €10.65.
Construction fared little better with four firms showing decreases.
House builders, Abbey, recorded the biggest fall of 35c to finish at €7.80, while CRH fell by 25c to €18.55.
The share price at Grafton Group tumbled 22c to €7.35 and McInerney Holdings was another big loser, down 20c to €5.55.
Pharmaceutical giant Warner Chilcott followed the negative trend with a 15c fall to €11.55, but Elan's shareholders saw their stock buck that trend as the pharmaceutical climbed 11c to €18.50.
Trinity Biotech was another on the index to buck the trend, gaining 25c to go to €2.60 after announcing a 24.2% profit increase for 2004’s third quarter today.
However, Insurance and financial services group, FBD, had the largest increase of the day, 30c, to rise up to €18.80, while food group Kerry recorded a more modest 15c rise to finish at €17.60.
