MARKET REPORT: News of the shooting of a suspected suicide bomber on London's underground failed to dampen investors' spirits with the Dublin market ending the day up half a per cent at 6,797.94.
CRH was the busiest stock, ending the week at an all-time high of €23.14, up 20 cents on Thursday's close. The company was benefiting from good sentiment in the sector and expected confirmation of the acquisition of an Austrian builders' merchants, traders said. More than 1.9 million shares changed hands. The acquisition has now been confirmed.
The major financials were also among the positive movers, helped by news that the Government is considering making it compulsory for people to invest in pensions. All the banks would benefit from such a move. Allied Irish led the way with a 25 cent gain to end the day at a record of €18.20. More than 2 million shares traded.
Anglo Irish added 13 cents, to close at €11.30, while Bank of Ireland rose 5 cents, to €13.83.
Meanwhile Irish Life & Permanent added 8 cents, to close at €14.80. Elsewhere, Jurys ended the day up 15 cents, at €15.60, on anticipation next week's deadline will bring a higher bid for the hotelier. Any reasonable offer should be above €17 a share, traders said. The Precinct consortium earlier this month offered €16.50 a share for the group, 25 per cent more than its previous bid.
Eircom was up slightly at the end of the day, 4 cents ahead at €1.87.
The telecom company is due to hold its agm on Monday and investors are expecting an update on the company's bid for Meteor, as well as a possible announcement of a rights issue, which could raise at least €350 million to help fund the purchase.
FBD added 60 cents, to close at €29.50. Moving in the other direction, Elan dropped 15 cents, to end the day at €6.45.
Ryanair slipped 4 cents, to €6.79, possibly on the back of further terrorist-related activity in London.
Dublin ReportSettlement Day: July 27th
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