Business Irish

Thursday 27 April 2017

Good results could propel Iseq shares

A good showing from this week's class could propel the Iseq to a fresh 2017 high (Stock picture)
A good showing from this week's class could propel the Iseq to a fresh 2017 high (Stock picture)

It's another busy week for analysts and investors with a host of companies due to report full-year results.

Today it's the turn of Irish Ferries parent Irish Continental Group (ICG), whose comments on the effect of the Brexit vote should be instructive.

Tomorrow it's Grafton Group (whose comments on Brexit will also attract interest) and Paddy Power Betfair, with the latter providing its debut annual results since that mega-merger.

On Wednesday, Permanent TSB will report on whether it has managed to sustain its return to profitability, and on Thursday investors will hear about Cairn Homes' progress on developing that massive landbank it has assembled.

A good showing from this week's class could propel the Iseq to a fresh 2017 high.

Economic growth figures for 2016 are due from the CSO this week, as is the Residential Property Price index for January.

On Thursday, the NTMA is due to go to the bond market, with Alan McQuaid of Merrion Capital projecting a sale in the order of €1.25bn. That would put the NTMA well ahead of schedule to meet the upper range of its €9bn-€13bn target for the year.

Irish Independent

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