The Dublin market was described as healthy by dealers yesterday with many large buyers returning to the market after a few days' absence.
Dealers said an improvement in international markets was one of the main driving forces behind the increase in the ISEQ's value. Buyers returned to boost interest in many of the leaders, with financials like AIB and Bank of Ireland rising strongly.
While trading in AIB was slow at first, it steadily increased all day to close finally up 13p at 923p. Bank of Ireland suffered more changeable fortunes, but eventually nudged up 10p to close at £13.20. CRH, which has been weakening in recent days, experienced a sizeable bounce, with dealers expressing surprise at how strong it was on the day. It began at 991p but, after a busy trade, ended up 34p at £10.25.
Green Property rose 10p to close at 535p, although some dealers expressed worry about the problems the company seems to be having with its bid for Trafford Park Estates.
It seems that Trafford Park shareholders are not too excited about the offer yet and may be waiting for a white knight.
Smurfit, which fell 5p on Thursday, saw its fortunes restored when it put on 6p to close at 233p. Dealers seem to be wondering still about the long-term value of the JS Corp/Stone deal. The other main movers were Unidare, which was down 5p to 285p and Fyffes, which went up from 173p to 180p.
