Fyffes' price drops seven cent following EU raid

Market Report: Fyffes was the centre of attention in Dublin yesterday, with shares in the fruit firm punished in the wake of Thursday's EU raid at its offices.

Almost six million of the company's shares traded before it closed at €2.24, down seven cent. The company said it was continuing to co-operate with the EU's investigations.

Elsewhere, volume was fairly light as the market prepared for the holiday weekend.

An exception came in Ryanair, where close to five million shares were traded as investors warmed to the airline's strong traffic statistics for May. Analysts said the numbers were better than expected, helping to nudge Ryanair shares up by one cent to €6.66.

The bigger financials had a mixed day, with AIB falling as Bank of Ireland rose. AIB ended the session at €16.85, down 22 cent, while Bank of Ireland gained 16 cent to close at €12.77.

Anglo Irish added four cent to finish at €9.72 as the bank confirmed that it had raised £300 million (€445 million) in core capital to help fuel lending growth.

Irish Life & Permanent ended the week at €13.75, up five cent on the day.

Another positive mover was Elan, which recovered some of the ground it lost in the previous session. Shares rose by 23 cent to €5.70, with analysts pointing out that they will remain volatile until the long-term future for Tysabri becomes clear.

C&C was in some demand as investors took advantage of recent weakness in the stock. Shares climbed by four cent to €3.24.

There was little activity in Jurys Doyle, with just 230,000 shares traded. The stock has now slipped back by 75 cent in the two days since Precinct made its approach at €16.25. They closed at €15.25 last night, down 25 cent.

Grafton was busier than most, as it rose by two cent to €9.14.

Independent News & Media was also in some demand, as shares added two cent to finish at €2.53. The group hosts its agm on Wednesday.

Settlement Day: June 9th