The ISEQ traded in reasonable volumes yesterday as dealers pointed to some general activity ahead of the so-called January effect, when buying interest is normally rekindled among the institutions. However, the index slipped back 0.27 per cent.
The performance of financials was mixed with AIB off 40 cents at €11.55 (£9.10), Bank of Ireland up 12 cents to €8.25 (£6.50) and Anglo Irish up five cents at €2.28 (£1.80). Irish Life & Permanent dealt down 12 1/2 cents to €9.72 1/2 (£7.66) but First Active lost 10 cents to finish at €2.10 (£1.65).
Eircom added 10 cents to close at €4.30 (£3.39). On the Nasdaq, it was 44 cents up at $17.44 (€17.36) in mid-day trading. Competitor Esat was down 50 cents on the Nasdaq to $81.50 (€81.14) following the official launch of the telecoms company's defence against a hostile bid from Telia/Telenor.
Back on the ISEQ, the industrials performed strongly with CRH gaining 59 cents to close at €19.32 (£15.22) after a period of inactivity. Smurfit also moved ahead, on speculation that there would be a rise in liner-board prices next year. The stock added six cents to close at €2.91 (£2.29). Ryanair was unchanged at €10.30 (£8.11) and Waterford Wedgwood was up one cent at 97 cents (76p).
Fyffes, which reported a 5 per cent rise in pre-tax profits, was up 15 cents to €1.80 (£1.42) while Greencore was 10 cents up at €3.15 (£2.48).
Among the exploration stocks, Tullow experienced volatile trading while Providence Resources was down 0.0013 cents (0.001p) at 0.0137 cents.
