C&C sparkles on quiet day before holiday

Market report:It was a quiet Holy Thursday on the Irish Stock Exchange as many investors called a temporary halt for the four-day Easter weekend.

There was still time, however, for drinks group C&C to benefit from positive data from the UK off-trade industry, which showed that volumes in its cider brand Magners have continued February's positive trend.

The brand has increased its share of the British cider market from 6.7 per cent to 7.9 per cent as a result of the increase in volumes. The stock finished the day up 31 cent at €11.73, although the volume of trading was not spectacular at 840,000 shares.

About 2.5 million shares traded in Independent News & Media, which saw its share price jump yesterday morning. A block of one million shares was traded at a price of €3.65, although the stock eventually fell back to close at €3.59. This was up three cent on the day, a rise of 0.84 per cent.

The other big news of the day was Waterford Wedgwood, which fell 11.29 per cent following its open offer of €100 million in preference shares.

Iona fell 9.68 per cent to €4.20 following lower than anticipated first-quarter sales.

It was not a great day for packaging group Smurfit Kappa, which fell 1.79 per cent to €19.25, a fall of 5 cent.

After three negative days, Anglo Irish Bank finished up yesterday by adding 27 cent to close at €15.82, up 1.74 per cent.

But it was another poor day for AIB and Bank of Ireland amid continuing comment about the banks' exposure to the Irish property market. Both banks dropped five cent yesterday, with AIB closing at €21.21 and Bank of Ireland closing at €16.

Iseq: 9,418.24 (+60.77)

Settlement date: April 12th