Market report:It was another healthy day in the Irish market yesterday as Anglo again attracted significant attention and helped push the financials higher.
Overall the Iseq added 1.5 per cent, taking it to its highest closing level since the first trading day of the year.
As many as 4.6 million shares in Anglowere traded yesterday, helping push the stock up 15 cent, or just under 1 per cent, to €16.20.
At the company's annual meeting yesterday, chairman Seán Fitzpatrick told shareholders that the bank had performed "strongly" in the first four months of the current financial year, information that, combined with the positive take up of its 35.7 million share placing on Thursday, prompted several brokerages to upgrade their earnings forecasts.
The other financials, too, were healthy, with Irish Life & Permanentputting in a particularly good showing. The shares rose €1.35, or 6.5 per cent, to end the day at €22.10, though volumes were limited, with just under a million shares trading. One dealer said the market was expecting upgrades to come through when the company releases results later this month.
AIBand Bank of Irelandboth added 15 cent, closing at €22.70 and €17.60 respectively. Volumes were decent.
Elsewhere Fyffeswas in focus, as more than 12 million shares changed hands. Dealers could pinpoint no reason for the heightened interest, though the stock has been the subject of speculation regarding one particular investor building a stake in the group and its property spin-off Blackrock. Fyffes closed up 4 cent, or 3.6 per cent, at €1.15. Blackrock too attracted interest, with five million shares trading, although the stock closed unchanged at 56 cent.
Ryanairrose 22 cent, or 2 per cent, to €11.22.
:quality(70)/cloudfront-eu-central-1.images.arcpublishing.com/irishtimes/VR3765MFOBH2NMV2QNICYDF67M.png)