THE super soaraway New York market gave a strong push to European stock markets yesterday, but yet again Dublin proved to be the exception with the market pushing ahead only marginally. Financial shares which have been the main focus of trading this week once again traded in size without making much headway.
The profit taking, which knocked over £50 million off the value of Bank of Ireland following the interim results, seems to have fizzled out and the share edged ahead 1/2p to 5001/2p.
AIB was also stronger and closed up 2p on 392p and Irish life was 2p firmer on 270p.
There was little movement in industrials, with CRH marginally lower on 6281/2p and Smurfit up 2p on 165p.
DCC, which fell earlier this week despite good half year results, was 7p higher on 260p as the company broker produced a positive note.
Barlo which reports half year results on Monday was 1p lower ion 40p while United Drug jumped 8p to 358p. Waterford Wedgwood was also in demand and closed up 2p on 79p.
Avonmore did not trade from its overnight 172p after raising $100 million in debt finance in the US. The Avonmore issue did get an investment grade rating from Moody's, but the ratings agencys assessment was a mixture of positive and negative for the Irish company, not all of which found agreement with Avonmore senior management.