Weak pound adds to attraction of very strong equity market

TRADING was very strong in Dublin yesterday with the buoyant performance on Wall Street having its effect on all European markets apart from London.

The weakness of the pound also made Irish equities attractive to foreign investors. There was a good volume of trading spread across the stocks with the financials being particularly strong.

Bank of Ireland continued its very strong run, finishing up at 695p, up 11p on the day. AIB finished at 465p, up 4p on the day. Anglo-Irish Bank ended up 1p, at 83p.

Irish Permanent was up 15p, closing at 620p, and Irish Life was up 9p, closing at 324p. Woodchester Investments closed up 10p, at 290p.

Northern Ireland Electricity rose 28.5p to 439p. CRH was up 13.5p to 651.5p. United Drug was up 5p to 370p. Waterford Wedgwood, which held its annual general meeting yesterday, rose 2p to 87p. Independent closed up 5p, at 345p.

Among the food companies Kerry closed up 11p at 645p, while Fyffes was down 2p, closing at 95p. Avonmore was down 3p at 230p. Waterford Foods did not trade.

Other movers were Jurys, up 15p to 365p, IWP, down 5p to 275p, and Irish Continental, up 5p to 600p. Barlo was down 1p to 42p, and Fitzwilton up 1p to 53p.

Heiton was up 1p to 109p and Ryan was up 1p to 45p.

Tullow was up 1.5p to 96.5p and Arcon International plc was up 1.5p to 48.5p.

The exchange was informed of a share purchase by Mr James Murphy, a director of Golden Vale plc. He bought 50,000 ordinary shares, his total holding in the company.

Seafleld plc announced that Mr Lyle Noble, managing director, had purchased 67,000 ordinary shares in the company, bringing his holding to 202,500.