THE uncertain outcome to the election had little impact on either equity or bond markets in Dublin, with little movement in prices. Dealers said, however, that the equity market remains well-bid and there seems no immediate danger of the market going into "sell and go away" mode.
The only real highlight of the day's trading was another strong rise by Ryanair which hit a high of 352p before closing up 16p on the day on 351p. Smurfit was also well-bid and closed up 2p on 194p, largely on hopes that the latest attempted $50 rise in linerboard prices will hold.
Otherwise, there was no clear pattern to trading with a 3p gain by AIB to 513p being balanced by a 3p loss by Bank of Ireland to 717. CRH was down 3 3/4 on 674 1/4, while Avonmore came off its recent high with a 7p fall to 275p.
Greencore was also marginally lower and closed down 2p on 353p after its recent strong recovery. Kerry was 7p easier on 648p in thin trading, while Unidare gained 10p to 205p after reporting a profits standstill in the first half.
Gilts were mixed in thin trading, dampened by the latest EMU uncertainty and the uncertain outcome to the election. The hung Dail is seen as a minor negative for the market and it may not immediately regain the ground it lost during last week's underperformance.
