Iseq gains in early trading

The Irish stock market opened in positive territory this morning, despite mixed performances from financial stocks.

At 8.47am, the Irish index of shares was up almost 42 points to 4,519. 

The star performer of yesterday's market, Smurfit Kappa, continued to add to its share price this morning, gaining 0.4 per cent by 8.30am to €4.69, on top of yesterday's 6.1 per cent gain.

After yesterday's 4.5 per cent slip following Goodbody's lowered forecast for the firm, Paddy Power was back up again this morning, adding 0.9 per cent to €15.40.

Falling oil prices continued to benefit the airlines, with both Aer Lingus and Ryanair gaining in early trade. Aer Lingus rose 1.3 per cent to €1.55 by 8.30am, while Ryanair added 10 cent to €2.74.

It was a mixed morning for the financials, with AIB gaining 7 cent to € 8.72, and Bank of Ireland also seeing some early gains, adding 0.3 per cent to €5.53.

However, Anglo Irish fell 0.9 per cent to €5.75, while Irish Life & Permanent was also hit in early trading, losing 0.3 per cent to €6.28.

The building stocks were also suffering in early trade, with Kingspan losing 1.7 per cent to €7.91, and CRH slipping 1 cent to €17.85. Grafton's stock was unchanged as of 8.30am.