Dublin ReportSettlement Date: July 6thThe Irish market closed up marginally yesterday in what dealers described as the week's quietest day of trading. The ISEQ added 15.96 points to close at 6,5563.76.
Bank of Ireland was the main beneficiary as investors took their money out of Allied Irish following its elevation to the Eurostoxx 50.
BoI added 8 cent, to close at €13.50 on reasonable volumes. Allied was unchanged at €17.70.
Among the other financials, Anglo Irish gained 5 cent, to end the day at €10.30, while Irish Life and Permanent closed at €14.57, up 10 cent on the previous day's close.
Another positive mover was CRH, which added 25 cent to end the day at €22.20. Dealers said the market is expecting a positive trading statement from the building supplies company next week, as well as an update on acquisitions.
Ryanair also ended the day up 6 cent at €6.45, helped by positive sentiment across the airlines sector. The low-cost airline is due to release traffic figures next week.
ETF, the ISEQ's exchange traded fund, added 5 cent, to close at €13.24 on reasonable volume. The fund, which matches the performance of a basket of Ireland's 20 most liquid stocks, has seen its volumes increase this week as some investors start to recognise it as a good and easy way to play the market, one dealer said.
Moving in the other direction, Eircom ended a busy week down 1 cent at €1.83. Traders said the stock has seen healthy volumes all week. Market sources said one group of investors buy it because of the company's possible re-entry into the mobile market, while another group sells it for the same reason.
Elsewhere shares of Iona dropped 10 cent to close at €2.40 after the software company said its second-quarter revenues would be below its own expectations at between $13.6 million and $14.1 million. It also said it expected to report a net loss of six to eight cent per share for the period.
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