Kingspan hits high note as CRH dips on profit-taking

DUBLIN REPORT: Iseq:3,006.55: (+13.02) Settlement date:August 27th

THE IRISH Stock Exchange had a solid day, closing up slightly at 3006.55 but marginally underperformed its European counterparts after being held back by CRH.

The index-heavyweight suffered some profit-taking yesterday ahead of its half-year results, due to be announced today.

CRH closed slightly down at €18.54, after falling by 2.01 per cent.

Kingspanwas the star performer of the day, following the announcement of better than expected results for the first half of the year.

Its latest results revealed revenue fell 35 per cent during the period, while its operating profit fell 66 per cent from €90.1 million to €30.3 million. The stock jumped 14.10 per cent to close at €6.15.

Kingspan's move bolstered Grafton, which climbed steadily throughout the day to close up 3.18 per cent at €3.25.

The financial stocks also had a steady day, with AIBleading the way, closing up 3.16 per cent at €2.185.

Bank of Irelandincreased 0.95 per cent to €2.130 while I rish Life and Permanentunderperformed the sector, sliding after a good start to close at €3.65, down 0.82 per cent.

Kerryclosed up 1.77 per cent at €17.85 ahead of its interim results due to be announced today.

Glanbiaand Fyffesboth attracted trader interest and jumped 5.26 per cent and 4.65 per cent respectively to €2.60 and €0.45.

Both Dragon Oiland Tullow Oilsurged on the back of higher oil prices. Dragon closed on €4.09, a gain of 3.28 per cent, while Tullow was up 6.15 per cent to €12.60.

Convenience food group Greencorealso performed well, closing up 2.80 per cent at €1.470, while Paddy Power enjoyed a strong day, rising 2.62 per cent to close at €18.42.