A round up of today's other stories in brief
ECB keeps rates at 4 per cent
The European Central Bank kept interest rates steady at 4 per cent yesterday and endorsed market expectations that a September hike is quite likely. ECB President Jean-Claude Trichet told a news conference he did not want to shake market probabilities on ECB rates.
British interest rates went up for the fifth time in less than year, hitting a six-year high of 5.75 per cent as the Bank of England keeps worrying about inflation. - (Reuters)
Renewables energy growth
Renewable sources generated 8.5 per cent of the electricity used in the Republic last year, Sustainable Energy Ireland (SEI) said yesterday.
Electricity generated from wind grew by 46 per cent in 2006, while the intensity of carbon dioxide produced by the generation of the average unit of electricity fell 5.5 per cent.
Shares in Air Berlin take off
Shares in Air Berlin rose by 5.5 per cent yesterday on speculation that Ryanair was quietly building a stake in the company. About 2.7 million shares were traded yesterday with the stock closing in Frankfurt at €16.98. Shares in the German budget airline traded as high as €21.50 in May but have fallen since then.
Ryanair declined to comment on the market rumours. Analysts, however, said the rumoured move was unlikely given the differences between the two carriers.
Increases all round at ISE
The value of shares traded on Irish Stock Exchange rose 55 per cent in the first half boosted by an increase in demand for equities amongst private investors.
Releasing its interim figures yesterday, the stock exchange said the value of equities traded in the first six months of the year rose to €102 billion, up from €65.8 billion in the same period last year. The average daily equity turnover increased 54 per cent, to €814 million.
The average number of transactions per day also increased, with an average of 5,594 deals, compared with 3,834 in the first half of 2006.
Cream rises at Donegal
Profit before tax at Donegal Creameries increased from €3.6m to €4.1m, an increase of 15 per cent for the year ended December 31, 2006, the company's agm at the Mount Errigal Hotel in Letterkenny heard yesterday.
Group turnover from continuing operations increased from €111.7m to €118.6m, an increase of 6.2%.
A dividend of 8 cent per share was unanimously agreed.
House sellers still confident
House sellers remain confident in the property market with asking prices rising in each of the last three months, Daft.ie said yesterday.
Ronan Lyons, economist at the property website, said sellers' confidence was part of a recovery in confidence in the wider economy, but he added that competition for buyers has never been more intense.
The number of properties for sale on Daft.ie is at a record high of 80,000 units.
Sellers' expectations have not been matched by reality, as the Permanent TSB/Economic and Social Research Institute house price index has shown that closing prices have fallen in each of the last three months.
