Iseq flat in slack trading

The summer lull in stock market trading continued uninterrupted today, as the Iseq index of Irish shares finished flat and total…

The summer lull in stock market trading continued uninterrupted today, as the Iseq index of Irish shares finished flat and total trading volumes remained comfortably below the 20 million mark.

CRH, Ryanair, AIB, Bank of Ireland and Kerry were the busiest stocks on a lacklustre day.

Food group Greencore, in which financially troubled property developer Liam Carroll has a large stake, was the largest percentage climber, extending its positive run with a 13.6 per cent climb to €1.42 - up 17 cent.

Greencore, which has a large exposure to the UK food market, may have been a beneficiary of positive investor sentiment following a half-year trading update from British baked goods and sandwich retailer Greggs, which today reported declining sales but improving margins in a set of figures that beat analysts' expectations.

Irish-listed bakery group Aryzta also felt the glow from Greggs, rising 1.5 per cent to €24.80.

On a good day for Irish food stocks, Kerry rose 4.1 per cent to €17.70, amid comment that the company, which is a supplier of cheese to the fast-food sector, could be a beneficiary of the trend that has seen McDonald's post a 4.3 per cent rise in European sales.

Meanwhile, Total Produce, the fruit distribution company, added 1 cent to close at 34 cent.

Paper and packaging group Smurfit Kappa recovered from some modest early pressure to close up 1 cent at €4.25 ahead of its second-quarter performance update tomorrow.

Ryanair fell 3.1 per cent to €3.05, continuing its subdued run of the last few days. The financial stocks all slipped, with AIB falling the most, down 5.6 per cent to €2.01.

The Iseq's biggest stock, CRH, was broadly flat, adding 11 cent to €17.40, despite reports that payments to building contractors in the US continue to accelerate under its highway stimulus programme.