The Irish market was buoyant yesterday with some decent volumes traded as it continued the strong run of the past month. The ISEQ closed the day 1.53 per cent stronger at 6,427.63. Substantial amounts were going into large stocks, many of which saw a lot of action.
Both of the big banks, AIB and Bank of Ireland, witnessed good two-way trading. Nearly two million Bank of Ireland shares changed hands, with the stock picking up 20 cents to close at #11.75, reflecting its inclusion in the Morgan Stanley Index. Despite some sizeable trading, with more than a million shares traded, AIB closed the day eight cents weaker at #12.93, as a result of some profit-taking. Anglo Irish picked up five cents to #4.38 on decent volumes of more than 1,400,000 shares.
There was also strong interest in CRH, which continued its good run. It jumped 58 cents to #21.25 with more than 1.2 million shares changing hands.
Strong US interest in Smurfit saw it advance 12 cents to #2.23 on strong volumes of more than five million shares.
Eircom was also enjoying strong volumes and a jump in price on the back of bids for its fixed-line business and in anticipation of higher bids. More than 4.8 million Eircom shares were traded in a day which saw its price rise to #1.23 from #1.18.
As the Irish market closed, Irish tech stocks were enjoying mixed fortunes on the Nasdaq. Riverdeep was 6.34 per cent stronger at $29.50 on the back of its announcement of a strategic alliance with IBM. Also trading up was Iona which was 6.48 per cent stronger at $40.60. Parthus, which saw director Mr Kevin Fielding dispose of 600,000 shares, was 3.70 per cent weaker at $13.
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