SHARE prices nudged ahead in generally thin trading despite a weaker tone in both London and New York. A strong rise by CRH was the main factor behind the marginal rise in the index.
Industrials are attracting more bid interest than financials, which are generally being offered at around yesterday's closing levels.
Investors are relieved that CRH is paying no interest in the Redland bricks division, which is for sale, with a view in the market that if CRH wants to spend £200 million it could do so much more fruitfully than on a bid for Redland bricks. CRH shares were well bid yesterday and closed up upon a new high of 503p.
Smurfit closed down 2p after a late deal on 150p, with JS Corp easing in New York. Financials made some gains, with AIB up 3p on 350p ahead of results next week. Bank of Ireland was 1p firmer on 445p.
Greencore also hit a new high of 558p before do sing down 1p on the day on 554p, while United Drug jumped another 15p to 300p, to bring its two day gain to 22p.
Jones added 2p to 175p Davy has revised its profits forecast after last week's warning and, has pulled back 1996 profits from's £2.5 million to £2 million and, 1997 profits back from £3 million to £2.5 million. Other brokers are thought to be adopting a more negative attitude towards the1 shares.
Ennex continued its good run and jumped 34p to 121/2p, while Kenmare benefited from some speculation on imminent corporate news and gained 2p to 27p.
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