DUBLIN REPORT 2,948.13 (-2.93 at close): Smurfit Kappa and CPL Resources were the star performers on what was a fairly flat day for the Dublin market.
Packaging group Smurfit bounced on the back of positive commentary from its peer SCA in relation to its outlook and closed up 3.3 per cent, or 21 cent, at €6.51.
IEX-listed recruitment company CPL Resources issued an interim management statement today for the second half of 2009 which was very favourably received by the market. Despite operating in a challenging environment CPL has managed to build up cash balances of €42 million. The stock jumped 2.3 per cent, or 5 cent, on the back of the statement to €2.20.
Traders reported a sell-off in the building materials sector, but although CRH was weaker on the day, it outperformed its peers. It finished down 21 cent at €17.04.
Meanwhile, having been “beaten up” yesterday, the two main banking stocks fared somewhat better today, one broker said. AIB added about 1 cent to €1.23, while Bank of Ireland shed 2.5 cent to just under €1.29.
However Irish Life and Permanent slipped about 6.5 per cent, or 22 cent, to €3.12.
Airline stocks were weak, with both Aer Lingus and Ryanair 1.5 cent lower at 66 cent and €3.33 respectively.
Overall the Iseq index closed pretty much flat at 2,948.13.
Across Europe, France's CAC 40 lost 1.9 per cent and the UK's FTSE 100 dropped 1.4 per cent. Germany's DAX slipped 1.8 per cent.
(Additional reporting - Bloomberg)