DEALERS experienced a good two way business in a busy, but unspectacular day. In mixed conditions, there was profit taking in some stocks while other investors bid up the price of some shares.
AIB dominated the results market, but it did not cause any surprises. The 13 per cent rise in profits to £421 million was at the top end of brokers' estimates. The outcome, nevertheless, has been described as good, solid progress particularly as all divisions and ala geographical areas contributed to the growth.
With the domestic market in a very healthy economic mode, it was not surprising that the greatest percentage growth came from the home base. The shares had moved up 10p on Monday ahead of the results.
The 1p fall to 464p yesterday was not seen as having any particular significance by dealers. The shares had earlier opened at 453.5p, so there was a gain from that level during the day.
Bank of Ireland saw a similar trend. The shares first fell 8p to 617p but moved up to 622p during the day. There was a 3p fall from Monday's closing price.
Clondalkin in a late deal jumped 25p to 560p. That was the day's biggest gain. CRH was a better market. While there was an initial 2p fall to 652p, the shares ended up at 655p, representing a 1p gain on the day.
Golden Vale, which yesterday announced that Mr Donal O'Callaghan had resigned as a non-executive director, saw a 1p rise to 67p but it was later dealt lower at 63.5p sterling. Mr O'Callaghan is a farmer and the company said he had resigned for "personal reasons". The resignation, it said, "takes place with immediate effect".
IAWS was a firmer market and the shares first rose 2.5p to 200p and ended up 5.5p better at 203p.
Irish Life was a pretty strong market, with a 6.5p rise to 292p. Irish Permanent was also stronger at 585p, 5p better on the day. Kingspan gained top to 580p.
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