ISEQ up despite downturn in construction sector
The ISEQ index of Irish shares ended the day in positive territory up 176.81 points to 4689.87 by market close.
Despite the release of yet another report signalling a further drop in activity within the construction sector, it was positive news all round for the construction heavyweights. CRH soared an impressive 64c to €19.04. Kingspan gained 35c to €7.35 and McInerney was up a mere 2c to end the day on 37c per share.
Ulster Bank's latest Construction PMI Report, released today says activity was down in both housing and commercial construction last month due to a lack of new projects.
Employment in the construction sector also dropped for the fifth month in a row, the sharpest decline since 2001.
Elsewhere significant gains were made within the financial sector. Irish Life and Permanent led the way, up 59c to €6.79 with Anglo Irish Bank jumping 47c to €6.83. AIB was up 40c to €9.23 and Bank of Ireland had the smallest gain but remained in positive territory, jumping 25c to €6.31.
