THE Dublin market put in a fairly active performance yesterday, although dealers said much of the business transacted was in the form of bed-and-breakfast deals.
Dealers put the volume of trade at between £16 million and £20 million. "The market was a bit firm, most people were writing their quarterly reports," one dealer said.
The index closed up five points, but there was little activity in the leading market shares. CRH was the star performer of the day finishing at an all time high of 568p, having opened at 555p. Most of the interest came from overseas, according to dealers.
AIB gained on the day to finish at 325p, while Bank of Ireland's share price also rose almost 5p, closing at 421 1/4p. Irish Permanent's share price slipped back slightly to end 1p down at 372p, while Irish Life lost ground falling 4p and ending the day at 252p.
Independent Newspapers, which last week announced pre-tax profits of £50 million for 1995 and increased the price of its Evening Herald newspaper to 65p, its second price rise in less than a year, finished strongly at 2p, having opened at 507 p.
Ulster Television's shares did not trade in Dublin yesterday, although the group announced record pre-tax profits of £8.2 million.
Abbey opened at 165p, climbed to 170p, but fell back to 165p while Fitzwilton dealt down 1p at 43p.
IWP International which distributes household products and labels, announced yesterday that it had sold its carton division to two management buy out groups, for £10.6 million. It opened and ended the day at 450p, up 5p on its previous price. "The deal had been well flagged," said one dealer.
Green Property's stock traded unchanged at 225p, in its first deal since the group's annual general meeting last Friday. Shareholders were told that the Blanchardstown Shopping centre, which opens in October, will result in a substantial increase in the company's net assets next year.
Shares in Waterford Wedgwood finished unchanged at 65 p. Its results are due out today and are expected to be good, according to market analysts.
