Tuesday 12 December 2017

Markets report... Aer Lingus gives ISEQ wings

Aer Lingus planes at Dublin Airport
Aer Lingus planes at Dublin Airport

Irish shares rose by mid-afternoon yesterday, although the major European stocks were little changed as an increase in healthcare shares and Greek companies offset a drop in energy producers.

By mid-afternoon in Dublin, the ISEQ Overall Index was up 0.34pc or 18.83 points to 5,589.34.

The leaders on the Dublin market included Aer Lingus, which was up 2.5pc to €2.25 by mid-afternoon as IAG met the Government to explain its bid for the former flag carrier.

Other leaders included building materials giant CRH, which was up 2.3pc to €23.60, while dairy company Glanbia had increased 1.3pc to €14.35 by mid-afternoon.

On the other side of the board, the laggards included insurance group FBD, which was down 2.8pc to €10.80, and food ingredients company Kerry, which had slipped 1.2pc to €64.52.

The Stoxx Europe 600 Index rose 0.1pc at 4.01pm in London, following an earlier decline of as much as 0.3pc. Greece's ASE Index climbed 0.9pc after rising 2.8pc, reversing earlier losses.

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