The Irish index of shares was trading up this afternoon, despite volatility in bank stocks ahead of the expected announcement on Nama pricing by Minister for Finance Brian Lenihan this afternoon.
Both AIB and Bank of Ireland opened weaker this morning, with Bank of Ireland losing 2.7 per cent by 8.30am to €2.70. the stock recovered slightly, but extended losses to 2.9 per cent, or €2.69, by 2.15pm.
AIB initially lost 0.3 per cent to €2.68 in early trade, but gained back some of its losses by mid-morning before falling again. At 2.15pm, the stock was down 0.7 per cent to €2.67.
Irish Life & Permanent gained as much as 2.7 per cent during the session, but pared gains to €5.79, or 0.1 per cent up, by the afternoon. Traders said volumes in the stock were lighter than usual as investors held off in anticipation of Mr Lenihan's announcement.
Elsewhere on the market, Aryzta shares rose, gaining 3.7 per cent to €27.40. The company is due to report on September 28th.
CRH was also stronger, rising 3 per cent to €19.43. The firm is expected to be confirmed as a new listing on the Euro Stoxx 50 index, creatign interest in the stock.
Ryanair, meanwhile, rose 1.9 per cent to €3.58. The company yesterday announced two new bases in Italy. Rival Aer Lingus, however, fell 0.6 per cent to 75 cent.
There was also soon interest in C&C, which rose 5.7 per cent during the session to €2.95.
