Strong performances from a number of key players boosted the Dublin market today, keeping it in line with European peers.
Traders said that the day was busy, thanks to results announcements from DIY group, Grafton and Fyffe’s offshoot, Total Produce, as well as activity around other stocks that reported this week.
The Iseq Index of Irish shares closed 0.3 per cent up at 2930.43. The performance was bang in line with the Dow Jones Euro Stoxx 600 index, which tracks leading shares in 18 western European market, which also closed 0.3 per cent up at 283.55.
It was ahead of the benchmark FTSE 100 index, which closed 0.15 per cent up at 6005.09.
DIY and builders’ merchant group, Grafton, shed 5 per cent to close at €3.52, despite reporting an increase in pre-tax profits of 88 per cent to €25.6 million.
Dealers said that the company has had a good run in recent months which had already priced in the company’s basically good funamentals.
At the same, they pointed out that investors had misgivings about a €38 million tax credit that boosted after-tax profits to €64 million and a decision to write down the carrying value of its Irish assets by €10 million.
International building materials group, CRH, saw its price recover by 1.3 per cent to €16.07 after taking a hit in the wake of its results, which it published on Tuesday.
Ryanair was slightly stronger, gaining one third of a per cent to end the day at €3.999.
Fruit importer, Total Producer, which said that profits were up 7.7 per cent to €43.2 million, added 4.63 per cent to close at 45 cent.
Industrial holding and distribution group, DCC, did well, adding 1.53 per cent to end the day at €23.20.
Packaging specialist, Smurfit Kappa, continued to make ground, adding 0.62 per cent to close at €8.905.