Iseq: 2,852.81 (–37.86) Settlement date: February 3rd:RYANAIR SHRUGGED off the negative sentiment weighing on the airline sector yesterday, and delivered one of the few positive performances on the Irish market.
The low-fares airline reported a loss of just over €10 million in its third quarter, but brokers said its results were in line with expectations and “reasonably well received”. The stock gained 0.75 per cent, or 2.7 cent, to finish at almost €3.65.
Overall the airline sector was down almost 2 per cent as concerns over international travel were fanned by ongoing turmoil in Egypt, while oil prices continued to rise.
Aer Lingus moved in line with the sector, shedding just under 2 per cent, or 2 cent, to finish at €1.03, although it was not very actively traded.
According to brokers this move was largely driven by the international situation and fuel prices rather than the ongoing dispute at the airline.
Elsewhere, Greencore sank more than 2.5 per cent, or about 3 cent, to €1.10. This move came after the convenience food producer’s chairman told shareholders it was continuing to consider its options in relation to a possible counter-bid for Northern Foods.
Overall, there were very few winners on the Irish market, with most stocks selling off over the course of the afternoon session.
Cider manufacturer CC was one of a handful of names to finish in the black, gaining almost 3 per cent, or 10 cent, to just under €3.42.
Index bellweather CRH was down in line with the market, falling about 1 per cent, or 18.5 per cent, to just under €15.64.
In percentage terms, Bank of Ireland suffered the heaviest losses, slipping 5 per cent. However, the stock is trading at such low levels that this fall equated to less than 2 cent and it closed at 30.4 cent.
