Dublin report: Shares in Aer Lingus remained in demand again yesterday, though fellow Irish airline Ryanair stole the limelight as far as news was concerned.
Speaking at an investor conference in New York, Ryanair chief executive Michael O'Leary raised the company's full-year earnings guidance, saying annual net profits will rise by 11 per cent, instead of the 5-10 per cent range previously forecast.
Dealers welcomed the improved figures, saying that, though they had expected an upgrade, these figures were better than anticipated.
Ryanair's shares jumped 16 cent, or 1.9 per cent, to €8.44, with almost four million changing hands.
Aer Lingus also put in a positive performance, ending the day up three cent, or 1.2 per cent, at €2.48. While demand slowed from the frenetic level of dealing seen on the first day of trading on Wednesday, activity was still busy, with as many as 23 million shares changing hands in Dublin alone.
Interest in the financials was limited, with AIB climbing eight cent to €21 and Bank of Ireland three cent ahead on €15.42, and the positive performances put in by the two airlines were the main contributors in pushing the Iseq to a record high.
However, the climb was nothing spectacular, with the index just edging up 28.02 points to reach 8,223.84.
Mining minnow Petroceltic put in a very strong performance, though volumes were light - the stock mainly trades in London. The shares jumped more than 17 per cent after Reuters reported that the company was looking to sell a stake in one of its Algerian projects to oil giant BP.
Chief executive John Craven denied any plans to sell, though said he would not rule out a partnership at some point.
The stock closed up three cent at 21 cent.
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