The ISEQ continued its advance into record territory yesterday, hitting an all-time high of 8,153 before giving up a little ground to end the day at 8,132, a gain of half a percentage point.
Despite the historical high, dealers said trading was light as Wall Street remained closed for the Labor Day holiday. Investors were also awaiting a slew of interim results due for release in the coming days. They include figures from Irish Life & Permanent, Kerry and Kingspan today as well as a trading update from Anglo Irish Bank.
The livelier performers yesterday included CRH, which added 50 cent, or 1.8 per cent, to €27.90 as it continued to attract buying interest following its recent results and investor roadshow. Drink and snacks group C&C also remained in favour, adding 23 cent, or 2.4 per cent, to €9.98 following a number of broker upgrades.
Among those who remained positive about C&C are Credit Suisse, which raised its price target to €12.60 from €10.30, and Deutsche Bank, which lifted its target to €12 from €10.
Ryanair added seven cent, or 0.9 per cent, to €7.67 as the airline announced three new routes, from Dublin to Stockholm, Malta and the Canaries.
The banks turned in a mixed performance. While AIB added 22 cent, or 1 per cent, to €20.50, Bank of Ireland lost seven cent to €14.76. Anglo Irish Bank also drifted lower, closing nine cent weaker at €13.10 while Irish Life & Permanent shed 10 cent to €20.20 ahead of its half-year figures. Dealers said Paddy Power, which added just five cent to €14.27 yesterday, could be in line for a boost today after shares in rival bookmaker, Stanley Leisure, surged 17 per cent following disclosures that it was considering a possible offer.
In the technology sector, shares in Horizon added six cent to €0.96 as it announced the sale of its Irish distribution subsidiary for €6.2 million.
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