CRH pushes Iseq into positive territory

Nice moves in major stock CRH plus a number of "beta" stocks pushed the Iseq into positive territory today, but AIB and Bank of Ireland were sold off for the second consecutive day.

In another quiet Easter holiday trading session, investors were keen to embrace evidence of the so-called "green shoots of recovery" in the US housing market, although analysts noted in relation to road building contract awards data that it was still too early to see the impact of stimulus package that is of such importance to CRH.

Nevertheless, the building materials group climbed 4.5 per cent to €17.12.

Ryanair attracted buyer interest despite the release of poor results from another company in the sector, SouthWest Airlines. However, with American Airlines recording lower than anticipated losses overnight, the Irish airline soared 5.5 per cent to a closing price of €3.20. By contrast, Aer Lingus had a weak day, falling 4.7 per cent to 70 cent.

Among the second-line stocks to record share price gains on the day included industrial holdings group DCC, which finished up 5.5 per cent at €13.07. DIY-chain owner Grafton rose 2.6 per cent to €2.38, while United Drug advanced 9.9 per cent to €2.00.

Food group Aryzta, which fell 11 per cent in trading on Wednesday after Lion Capital sold its 5 per cent stake, made almost a full recovery today. It closed at €21.38, up 8.5 per cent.

For the second day in a row, Bank of Ireland and AIB lost ground, with Bank of Ireland slipping 6.25 per cent to 75 cent and AIB declining 3.6 per cent to 93 cent.

But Irish Life & Permanent more than bucked the trend, rising 8.3 per cent to €2.24.