Sunday 28 December 2014

Kingspan among leaders as ISE up by 1pc

Sarah Stack

Published 25/02/2014 | 02:30

SHARES in insulation and building solutions group Kingspan rose by more than 3pc after it reported a 19pc rise in after-tax profits for 2013.

The price of shares jumped to €14.40 in Dublin after the company said revenues for the year were up 10pc. In the US the S&P 500 climbed to an all-time high on optimism over merger activity following Facebook's WhatsApp deal.

Other leaders by the close of trading yesterday included investment group Prime Active Capital, which jumped 18.66pc to 14.5c, while exploration minnow Aminex added 16.67pc. Great Western Mining added 215pc, taking its shares price to a mere .03c.

The ISEQ Overall Index climbed almost 1pc, or 49.34 points, to close at 5,054.19.

Laggers included Providence Resources, down 4.97pc to €2.78 and CPL Resources, down 3.3pc to €7.25.

Aer Lingus also saw its share price fall by 2.73pc to €1.56 each after it reported a €61.1m operating profit for 2013, a near 12pc drop on the amount it generated in 2012. The Stoxx Europe 600 Index added 0.6pc to a six-year high and the Ukrainian Equities Index jumped 15pc on speculation the country will get international financial aid.

The EU and US have said they are ready to aid Ukraine as lawmakers in Kiev work to set up a coalition government on yesterday afternoon.

In the UK, stocks were little changed after reaching a nine-month high, as HSBC Holdings posted pre-tax profit of $22.6bn that missed analysts' estimates.

The FTSE 100 Index rose 4.16 points, or less than 0.1 percent, to 6,842.22 in London.

Elsewhere stocks on Wall Street surged to an all-time high on optimism over merger activity that also lifted global equities markets, while crude oil prices rose, helped by expectations of revived growth in the demand for oil.

On Wall Street, the Dow Jones industrial average rose 184.39 points, or 1.15 pc, to 16,287.69. The Standard & Poor's 500 Index was up 20.65 points, or 1.12pc, at 1,856.90. The Nasdaq Composite Index was up 43.37 points, or 1.02 pc, at 4,306.78.

Irish Independent

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