Stocks with US interests put in good performance

Irish stocks with US interests performed strongly on the presumption that a cut in US interest rates was better than the news…

Irish stocks with US interests performed strongly on the presumption that a cut in US interest rates was better than the news driving the cut.

CRH had a good day, ending 31 cents stronger at €20.30 with nearly 800,000 shares traded, while Smurfit gained six cents, ending the day at €2.04 with more than one and a half million shares changing hands.

The big financials also put in a good performance. In strong volumes, the banks held up very well, particularly against the backdrop of the British UK and European banking sectors which were trading down. AIB picked up 27 cents to close at €13.25, while Bank of Ireland edged 11 cents higher to €10.80.

Anglo Irish lost some of its recent gains, dropping back seven cents to €3.57. Irish Life & Permanent also lost 10 cents on the day, finishing at €12.45. First Active advanced 16 cents to €2.45.

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Activity in smaller stocks was also a feature on the day. Many finished stronger, a theme throughout the past number of weeks. Barlo picked up six cents to finish at €1.10, while Kingspan advanced 30 cents to €4.60.

Following its drop on the previous day, Bula regained some of the lost ground, gaining four cents per block of 10 shares to €0.22.

Falling back on the day were DCC, which lost 25 cents to close at €11.30, and Green Property, which dropped 15 cents to €7.50. Power Leisure closed at €3.01, a drop of nine cents.

Most Irish tech stocks were trading down on the Nasdaq as the Irish market closed. Baltimore was 1.98 per cent weaker at $12.751/2, while Riverdeep was down 2.54 per cent at $24. Parthus had also lost ground, dropping 0.85 per cent to $29, while Trintech was unchanged at $9.