Iseq's slide tracks dip in values across Europe

 Iseq: 2,450 (–20.30) Settlement date: August 30thIT WAS a volatile day on the Irish market yesterday, as an early advance was cancelled out once the US markets opened at lunch-time. However, the Iseq did outperform its European peers, closing down by 22 points or 0.9 per cent at 2,447.94.

With results season in full swing, Kenmare Resources delivered a disappointing set of interims, although its share price rose on the back of an increase in revenues and strong pricing for ilmenite, a mineral it mines in Mozambique. It gained three cent, or 5.6 per cent, to close at €0.51.

Independent News & Media also advanced ahead of its interim results today. It gained one cent, or 1.9 per cent to rise to €0.27.

Ahead of Paddy Power’s results next week, NCB Stockbrokers upgraded its estimates forecast for the company. However, the stock was largely flat, dropping 10 cent, or 0.3 per cent to close at €33.25.

Food group Glanbia gave up some of its gains to close down by 0.01 per cent, or 0.2 per cent, at €4.16, following its positive set of results on Wednesday.

Insurer FBD may have had a solid set of results on Wednesday, but the market turned against the stock. It lost 20 cent, or 3.1 per cent, to retreat to €6.15.

Pharmaceutical firm Elan also reversed some of its gains of the previous day. It lost 25 cent, or 3.6 per cent to close down at €6.78.

Elsewhere, CRH was largely flat falling back by a cent, or 0.9 per cent to finish down at €11.50.

Smurfit Kappa was one of the strongest, adding 14 cent, or 2.9 per cent, to advance to €5.05.

It was another day in the red for Kerry Group, as it lost 73 cent, or 2.7 per cent, to fall back to €26.20.

Property development company Balmoral International is now set to de-list from the Enterprise Securities Market, following a vote from shareholders at yesterday’s egm. It will exit the ESM from September 2nd. It closed at €0.008.