Irish technology shares listed on overseas markets caught the eye yesterday with little of consequence on the Irish market to excite investors. Even the interim reporting season - set to get into full swing in the next couple of weeks with results from heavyweights like Kerry, Smurfit and CRH - has done little to stimulate much activity.
Neuer Markt-listed Conduit, which has struggled in its first few weeks as a plc, took a big jump yesterday and closed up €1.61 on €17.46 ahead of first quarter results next week. Parthus bounded ahead 24 1/2p in London to close on £2.36 sterling in turnover of 3.4 million shares while Nasdaq-listed Irish technology stocks were also in good demand. Smartforce continued a strong recent run and was up $2 3/4 to $53 1/8 by midday while Baltimore and Iona were also firmer.
On the home market, bargain-seekers helped Eircom from its €2.40 low to close on €2.48, but otherwise it was mixed. The two big banks went opposite directions with AIB up 15 cents on €9.57 while Bank of Ireland was 2 cents easier on €6.69. CRH was 13 cents easier, Smurfit was 1 cent firmer on €2.21 while Kerry gained 20 cents on €14.85.
Abbey was unchanged on €3.10 after disclosing that it bought back another 250,000 shares at €3.05 to bring buybacks in the past year to over 3.7 million shares or over 10 per cent of the total equity. Fyffes dipped 5 cents to 95 cents but Glanbia gained 5 cents from its recent low to close on 60 cents. Waterford Wedgwood again dealt in some size - over 2 million shares - but was unchanged on €1.28.
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