Early gains wiped after bad US figures

DUBLIN REPORT Iseq 3,080.75 (+10

DUBLIN REPORT Iseq 3,080.75 (+10.28 at close): The Iseq index was pretty much flat today, as gains made in the morning session were wiped out after disappointing US non-farm payroll figures were released in early afternoon.

The two main banks paused for breath, having rallied strongly since the start of the year. Bank of Ireland shed about 1 per cent, almost 2 cent, to 1.69, while AIB fell fractionally to finish the first trading week of the year at €1.65.

Irish Life & Permanent also lost a little ground, closing down just over 3 cent at €3.50.

Elsewhere, construction names pushed ahead. CRH gained more than 1 per cent - almost 24 cent - to close just under €18.14, on a day when the sector as a whole was, in the words of one trader, “quite hot”.

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Kingspan was also in demand, and added almost 1.5 per cent - or 10 cent - to €6.90. Grafton went slightly better on the back of more positive news coming out of the UK construction market. The DIY group finished more than 2 per cent - 7 cent - up on the day at €3.25.

Outside of that, airline stocks were reasonably active. Ryanair closed 1 cent off at €3.45 on fairly heavy volume. Rival carrier Aer Lingus reversed course and erased losses sustained earlier in the week with a jump of more than 7 per cent, bringing it over 67 cent.

Across Europe, France's CAC 40 added 0.5 per cent and the UK's FTSE 100 gained 0.1 per cent. Germany's DAX climbed 0.3 per cent after exports rose more than economists forecast in November as Europe's largest economy benefited from the recovery in global trade.

Additional reporting - Bloomberg