Business

Saturday 3 December 2016

The ISEQ Overall Index closed up 66.34 points, or 1.03pc, yesterday to 6494.89. Some 18 of the 47 companies listed on its main market rose while 12 fell and 17 stayed the same.

Published 03/11/2015 | 02:30

Traders work on the floor of the New York Stock Exchange. Photo: Reuters
Traders work on the floor of the New York Stock Exchange. Photo: Reuters

The ISEQ Overall Index closed up 66.34 points, or 1.03pc, yesterday to 6494.89. Some 18 of the 47 companies listed on its main market rose while 12 fell and 17 stayed the same.

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Providence Resources rose the most during the day, up 11pc to 34c by close of business. It was followed by drill bit maker Mincon, which added 8pc to 69c.

Ryanair enjoyed a good start to the week, adding 3pc to 13.94. Yesterday morning the airline posted a 37pc jump in after-tax profit for the first half of its financial year - to €1.088bn - excluding a one-off gain of €317.5m from the sale of its stake in Aer Lingus.

It said it expects full-year net profit to be at the upper end of its guided range of €1.175bn to €1.225bn. In July it became the first EU airline to carry 10 million passengers in one month, the airline said.

Kenmare Resources took the biggest losses of the day, falling 29pc to 2c. Kerry Group's share price also lost value, closing down 2pc to 72.721. In Europe stocks advanced as better-than-expected manufacturing in the region outweighed disappointing Chinese output data. The Stoxx 600 climbed 0.3pc to 376.75 at the close of trading, reversing a loss of as much as 0.7pc. Shares extended gains earlier as a Markit Economics release showed output in the Eurozone unexpectedly accelerated in October as German companies fared better than initially reported.

China's official purchasing managers' index contracted last month, missing estimates and rekindling concern about growth and demand in the world's second-largest economy. In Germany Commerzbank rose 6.6pc after the lender said quarterly earnings increased by 25pc, as chief executive officer Martin Blessing prepares to leave the company.

Irish Independent

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