Iseq off to sluggish start

Ryanair and Elan were among the losers in early trading on the Dublin market today as the Iseq started the week on a sluggish note.

The index was trading down a third of 1 per cent at 12.45pm at 2675.46.

Despite reporting net half-year profits of €452 million, Ryanair has shed 3.7 per cent, or 15 cent, and fallen to €3.98.

Analysts said the airlines second quarter results were below expectations.

Having announced that two dissident directors have left its board, biotech group Elan shed 3 per cent to €3.93.

Food producers Kerry Group and Aryzta have both lost ground today, as have Aer Lingus and Independent News and Media.

Market heavyweight CRH was among those to make ground this morning, climbing 1.2 per cent to €12.46.

AIB, which is hosting an EGM to seek board approval for the sale of its stake in US lender M&T, gained 1.8 per cent and is trading at just over 34 cent.

Packaging producer Smurfit Kappa added 2.5 per cent.

In London, the benchmark FTSE 100 Index rose 0.22, or less than 0.1 per cent, to 5,675.38. The Stoxx Europe 600 Index slid 0.1 per cent to 265.49.