Business

Sunday 22 September 2019

Irish shares fall as FTSE 100 hits record

Charlie Weston

Charlie Weston

A DAY of slim trading volumes saw the Iseq index of Irish shares fall back.

Losers included drinks group C&C, Bank of Ireland and Ryanair.

The Iseq benchmark index fell by 30.65 points, or 0.47pc, to 6,485.34 as it continues heading for an end-of-year level that it below where it ended 2015.

It continues to be a tough year for the Bank of Ireland share price, which slipped 4pc yesterday to 23c.

And drinks group C&C was off 2pc also to €3.899, despite festive spending on alcohol.

Ryanair, which is traditionally busy at this time of the year, saw its share price fall to €14.60.

That is below where the price was this time last year.

Other losers on the day include Kenmare, Datalex and Kerry Group.

It was a better trading day for Donegal Investments. The former Donegal Creameries saw it share price rise to €5.30, a 2.8pc increase.

Up also was food group Glanbia, with a rise of 2.66pc to €15.81.

AIB, which is expected to see some of its shares sold to the public next year, ended the day with the shares at €5.

In London the FTSE 100 hit a new all-time closing high in the first day of trading since the Christmas break.

It closed 37 points (0.5pc) up at 7106.08, surpassing the previous high of 7,103.98 points achieved in April 2015.

Mining stocks were the biggest gainers, up 3.5 percent and helped by a firmer oil price and a rally in copper, with which mining shares tend to be closely correlated. BHP Billiton, Fresnillo, Rio Tinto, Anglo American and Glencore were all up between 3.4pc to 4.3pc.

The British mining sector has rallied more than 100pc in 2016.

Irish Independent

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