Thursday 29 September 2016

Zamano and BOI shares rally on ISEQ

Sean Duffy/Bloomberg

Published 09/08/2016 | 02:30

'In London, the FTSE 100 was up by 0.3 pc at 6809. The German DAX rose by 0.8pc, while the French CAC gained 0.1pc.' Photo: Reuters
'In London, the FTSE 100 was up by 0.3 pc at 6809. The German DAX rose by 0.8pc, while the French CAC gained 0.1pc.' Photo: Reuters

The ISEQ overall Index of Irish shares rose by 37.18 points (0.63pc) yesterday to close at 5895.08.

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The biggest winner of the day was Ovoca Gold, the commodities firm gaining 20pc. Dalata Hotel Group had gains of 6pc, while phone technology firm Zamano shares bounced back by 6pc having fallen in the aftermath of the company's AGM last Thursday. Bank of Ireland shares continued their rally, rising 4pc to trade at 0.19c per share.

The day's laggards were Clare-based mining firm Mincon which posted losses of 10pc, while Tony O'Reilly's Providence Resources saw its share price drop by 9pc.

In London, the FTSE 100 was up by 0.3 pc at 6809. The German DAX rose by 0.8pc, while the French CAC gained 0.1pc.

On the commodities markets, oil and gas stocks were up following the news that Britain's largest natural gas facility is to remain closed for the winter.

Crude oil climbed 2.8pc in New York after OPEC's president predicted the current bear market will be short-lived and after the release of better-than-estimated American payrolls data on Friday bolstered an appetite for riskier assets.

On bond markets, Italian 10-year yields rose from historical lows seen last week as rating agency DBRS placed the country's credit rating under review ahead of a referendum aimed at reforming the country's political system. Prime Minister Matteo Renzi has stated his intention to resign if the referendum is not passed, a situation which would heighten uncertainty in a country plagued by questions about the strength of its banking sector.

On the currency markets, the euro was trading at $1.10 and 84 pence sterling. The pound fell to $1.30, down 0.2pc.

Irish Independent

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