The latest currency turmoil in the Far East failed to filter through to equity markets and the Irish market made a mild recovery after two days of substantial losses. Trading was comparatively light and the only real gains were notched up by Greencore which seems to have finally broken out of a narrow trading range between 300p and 320p.
Greencore has been making presentations to UK fund managers over the past couple of days, and much of the demand which drove the share ahead 15p to 340p yesterday came from the UK. Arnotts was another second-liner to make progress and closed up 30p on 460p. As expected, Donegal Creamer- ies - floated at what many observers considered a very generous price - soared on the first day's trading and closed up 60p from the flotation price to 225p. Dealers reported bids for the shares at 235p.
There was little change among most of the leaders, most of which closed a penny or two higher or were unchanged. Among the explorers, Ivernia was unchanged on 90p as AIB Investment Managers disclosed that a recent purchase of 118,700 shares has brought AIBIM above 10 per cent.
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