Mixed day as Anglo bucks trend of falling financials

DUBLIN REPORT:MIXED FORTUNES abounded on the Iseq index of Irish shares yesterday as cement group CRH outperformed the market and Anglo Irish Bank temporarily alleviated its woes with a strong day's trading. However other financials withered on the vine.

The Iseq index closed up almost 2 per cent on the previous day's session.

Anglo closed up 30 per cent - a climb of 9 cent to 39 cent - although it benefited from a surge at the close having traded at 35 cent for a large part of the day.

There was decent volume in the stock, according to dealers, with some 15 million shares changing hands in Dublin.

However, AIB and Irish Life Permanent suffered as a result of equity market reweightings, with AIB falling 6 cent to €1.84, down 3 per cent, and Irish Life Permanent down 24 cent to €1.46, a slide of 14 per cent.

Bank of Ireland fell 5 cent to €0.86, down 6 per cent.

Building materials group CRH climbed 4.8 per cent to €20.77, up 96 cent.

Drinks group CC had a strong morning and finished up 3 per cent at €1.36 ahead of its emergency general meeting (egm) this morning at which shareholders will vote on a shared ownership plan proposed on the back of the appointment of new senior management.

There was busy trading in Ryanair, with 4 million shares trading in Dublin, as the airline's share price finished up 3.6 per cent at €2.90, up 10 cent.

There were also gains for paper and packaging group Smurfit Kappa, builders McInerney, food group Kerry and bookmakers Paddy Power.

However, a softening in oil prices meant exploration groups Dragon Oil and Tullow Oil were the main losers outside the financials.

Settlement date: December 22nd