Iseq: 3,304.28 (-43.05) Settlement date: October 6th IRELAND OUTPERFORMED other European stock markets, but the Iseq index of Irish shares still finished in negative territory, with most of the major stocks shedding cents off their share prices.
The Iseq closed down 1.3 per cent, compared to falls of 1.7 per cent to 2.1 among the major European indices.
The Irish market started off brightly enough, but a negative mood across the Atlantic meant it wasn’t long after the opening of the US markets for the sellers to start offloading Irish stocks.
October began negatively for the financial stocks, with Irish Life Permanent the weakest of the three, finishing down 6.6 per cent at €5.25.
Bank of Ireland, the target of most investor interest of late, couldn’t sustain its early gains and finished down almost 5 per cent at €3.25 on volume of about 10 million.
AIB was a little more stable on the day and closed down 2.7 per cent at €3.12 on volume of less than 5 million, a decline that was more or less in line with the performance of the European banks.
Building materials group CRH, the largest component stock on the Iseq, did its bit to drag down the market by closing down 1 per cent at €18.71.
Aer Lingus, which has enjoyed a strong surge in its share price of late, continued to drift off, finishing down 5.6 per cent at 71 cent.
Ryanair, which is due to give updates to investors today, was one of the strongest stocks, closing up 1.5 per cent at €3.46.
Drinks group CC attracted a few buyers ahead of the release of its half-year results next week, prompting it to climb 2 per cent to €2.95.
Bookmakers Paddy Power and bakery group Aryzta were also among the climbers, but Greencore, Kerry, Smurfit Kappa and Independent News Media closed lower.
