Iseq: 6,108.20 (-6.06) Settlement date: May 30thSEE-SAWING oil prices led to a what dealers called a "topsy turvy" day on the Irish Stock Exchange, with the main Iseq index finishing 0.1 per cent off its opening.
Traders last night said that the market slipped into negative territory in early trading, but as oil fell below $130 a-barrel in the middle of the day, shares began recovering quickly.
However, oil traded back up above $130 later in the day which meant the market dipped slightly ahead of the close of business.
Low-cost airline, Ryanair, gained a fair bit of altitude as oil prices retreated back towards $129 during the day.
Ryanair ended the day 13 cent up at €2.75, a gain of almost 5 per cent.
The stock traded higher than this during the day and over 11 million shares changed hands on the Dublin market.
The banks fared reasonably well. Anglo Irish Bank added 13 cent to close at €8.55, a boost of 1.54 per cent.
Trades in the stock amounted to just over four million units, which dealers said was light in comparison to its normal volumes.
AIB was flatter, adding 5.5 cent by the close of business to €13.055, leaving it less than half a per cent ahead for the day. With just 1.4 million shares in the bank traded, volumes here were also below normal.
Bank of Ireland performed better, gaining 7 cent to close at €8.38, an increase of close to 1 per cent. Its volumes were stronger than those of its peers yesterday, and investors bought close to six million shares.
In industrial stocks, companies with an exposure to building suffered. Builders's merchant and DIY specialist, Grafton, shed 21.3 cent to close €4.847, a 4.21 per cent plunge.
Kingspan dropped 27 cent to end the day on €6.73, a fall of 3.86 per cent.
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