Iseq ends in positive territory after sluggish session

Dublin Report: The market managed just the slightest of positive closes as trading levels maintained their weak summer trend.

The exceptions were notable, with unusually high volume for United Drug offering some distraction. Almost eight million shares were traded in Dublin, with most business thought to be institutional. The stock ended the session at €3.50, up two cent.

Volumes were more anaemic elsewhere, although the banks saw reasonable business.

AIB rose by 15 cent to €20.30, while Bank of Ireland added 10 cent to close at €14.75. Anglo Irish Bank climbed by nine cent to €11.88 and Irish Life & Permanent closed eight cent stronger at €19.22.

Ryanair remained in the spotlight over criticism of BAA, but its shares didn't suffer too badly. The airline finished at €7.15, down five cent at the close.

CRH, which is due to deliver interim results on August 29th, added 16 cent to finish at €25.42.

Kerry Group had a good day, rising by 45 cent to €16.85 on no particular news.

IAWS was also very solid as it added 30 cent to close at €15.10. The stock has risen by 8.5 per cent over the past month. Still in the food sector, Greencore rose by four cent to €4.02.

C&C continued to power ahead on the back of positive sentiment surrounding Magners. Shares added four cent to end at €8.67. The firm has changed the date of its trading update from August 31st to September 1st.

Irish Continental Group managed a decent gain as a trickle of investors recalled Tuesday's strong volume numbers from Dublin Port. Shares rose by 15 cent to €10.75.

McInerney was also strong, although volume was again poor. Shares rose by 19 cent to €11.24.

Paddy Power was slightly busier as it continued to climb, adding 25 cent to close at €13.70. The bookmaker has made almost 7 per cent since mid-July.

South Wharf was the ultimate example of low volume squeezing up the price, with shares rising by 25 cent to €6.75 on the barest minimum of trade.