Irish shares up as jobs figures rise
Published 28/02/2014 | 02:30
IRISH shares increased yesterday as strong growth in Irish employment figures pushed the number in work to a three-year high.
By contrast, European stocks declined for a second day as tensions escalated in Crimea, following Ukraine's change of government.
By the close in Dublin, the ISEQ Overall Index had increased 0.63pc or 32.34 points to end the trading day at 5135.96.
The latest data from the Central Statistics Office showed that the jobless rate fell sharply to 12.1pc at the end of last year from 12.7pc in the autumn.
And 61,000 extra people were in a job – a rise of 3.3pc – by the end of last year, with employment now above 1.9 million for the first time since the end of 2009.
The leaders on the Dublin market included Ryanair, which rose 2.2pc to €7.44, while Aer Lingus was up 0.9pc to €1.61.
Permanent TSB was up 10.8pc to 10 cents, after it announced a new mortgage arrangement set to allow home owners purchase elsewhere while still retaining their attractive tracker mortgage.
Bank of Ireland was up 1.4pc to 36 cents.
On the other side of the board, the laggards included drinks group C&C which fell 0.2pc to €4.76.
Bookmakers Paddy Power fell 1pc to €58.94, while Dragon Oil slipped 1pc to €7.45.
Elsewhere, the Stoxx Europe 600 Index slipped 0.2pc to 337.21 at the close of trading.
The benchmark dropped on Wednesday as Credit Suisse Group dragged banks lower after a person familiar with the matter said that the Securities and Exchange Commission began an investigation into its accounting last year.
National benchmark indices declined in 11 of the 18 western-European markets.
The UK's FTSE 100 climbed 0.2pc, while France's CAC 40 slipped less than 0.1pc. Germany's DAX fell 0.8pc. (Bloomberg)