Financials do well again in active trading

Trading was active on the Irish Stock Exchange, particularly in financial stocks with the market closing down five and a half…

Trading was active on the Irish Stock Exchange, particularly in financial stocks with the market closing down five and a half points on the day. However, financial stocks were up 36 points.

Bank of Ireland was up just under 1 per cent, finishing nine cents up on the day at €9.15. AIB was up five cents in active trade on €12.98. The exceptions were Anglo Irish Bank Corp which ended the day down 12 cents to €2.65 and First Active which finished seven cents down at €2.10.

The trade in financial stocks continued a theme in a week which saw sizeable dealing in this sector.

CRH continued to trade down on light volumes, with the market remaining unenthused about the group's €425 million cement acquisition in Switzerland. It dropped 25 cents to end the day at €17.75.

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Trading in Eircom shares was light and its price remained unchanged, despite continued speculation that a Dr Tony O'Reilly-backed consortium is looking over the company's non-mobile business.

Golden Vale regained five cents it lost on the previous day's trading when it relisted its shares after pulling out of its reverse takeover of Prize Foods.

Iona Technologies was the biggest loser on the day, down €5 to finish at €76. Grafton Group also ended the day down 50 cents and Galen down 31 cents.

Elan's opening price reflected the drop in price on the previous night's trading on the Nasdaq. However, it finished up 20 cents despite starting the day down €5.80.

As the Irish Stock Exchange closed, Elan had regained its losses on the Nasdaq. However, shares in Irish tech stocks were trading down on the Nasdaq.