CRH positive statement revives index

Dublin Report:A positive trading statement from building materials group CRH, predicting a 19 per cent rise in pre-tax profits for 2007 and announcing a share buyback, was enough to lift the Iseq index out of its post-Christmas slumber, with activity levels almost returning to normal.

The Iseq index finished the day up 0.4 per cent, after some strong retail data from the US and expected levels of jobless claims numbers spread positive sentiment to European markets in the afternoon.

In terms of the amount of money that changed hands, CRHwas the star performer, with the company's share price rising 4.3 per cent to €25, a climb of 105 cent, on volume of 1.6 million.

But in percentage terms, fruit group Fyffeswas even more impressive, climbing 5.2 per cent to €1.01, as the market digested Wednesday's news that it has significantly penetrated the US melon market. The stock attracted volume of 3.1 million, mostly at around the €1 mark.

Elsewhere, it was a day of mixed fortunes for Iseq-listed stocks, with gains and losses of 4-5 per cent not uncommon.

Worries about oil prices meant it was a bad day for Ryanair, which finished down almost 6 per cent at €4.32. A weaker sterling compounded the issue of higher oil costs for the airline.

Grafton, which said it would issue a trading statement this morning, fell 2.6 per cent to €5.25.

There was a seller in Independent News & Mediaat €2.34, which knocked that stock down 3.7 per cent to close at €2.32.

There were also a few sellers in Greencore, with the stock drifting down 4.7 per cent.