Iseq closes a little stronger after flat day's trading

Market Report:THE ISEQ closed the day marginally stronger on what was a featureless day's trading.

With a lot of nervousness ahead of the US payroll figures, investors spent the morning marking time. Despite worse-than-expected figures, though, the market rallied after a brief fall, dropped again before firming up towards the close.

However, in the absence of company-specific news or real themes, volumes were low and the exchange ended the day just under 0.5 per cent - or 30.94 points - up at 6,351.96.

Financials were a mixed bag, with Bank of Ireland the best performer on the day as it moved ahead by 2.72 per cent to €9.61. AIB was unchanged at €20.30, while both Anglo Irish Bank and Irish Life & Permanent were also flat, finishing at €8.60 and €12.55 respectively. FBD tacked on 20 cent to end day at €29.20.

Despite a good performance from Kingspan, construction stocks were a little bit weaker. Grafton, which been on a something of a roll earlier in the week, gave up more ground yesterday. It was 2.5 per cent weaker at €5.75.

CRH shed 10 cent to €25, while Readymix was flat at €1.39.

Kingspan held up well, gaining 21 cents to €9.05, while McInerney put in a robust day to reach €1.25, a gain of 4 cent.

Elsewhere, United Drug was more or less flat throughout the day, despite announcing that it had purchased two companies in the UK for a combined total of £14.15 million. It eventually eased back by 3 cent to €3.67 by the close of business.

Smurfit Kappa was also down on the day as it shed 20 cent to €7.95.

After giving up 4.4 per cent in the previous day's trading on the back of rising oil prices, Ryanair staged a comeback yesterday and it eventually closed 2.25 per cent stronger at €2.96.

Iseq: 6,351.96 (+30.94) Settlement date: April 9th