Tuesday 21 November 2017

PTSB soars on day of mixed fortunes

Permanent TSB fell 7pc to 9c as chief executive Jerermy Masding appeared before an
Oireachtas committee. Photo: Stephen Humphreys
Permanent TSB fell 7pc to 9c as chief executive Jerermy Masding appeared before an Oireachtas committee. Photo: Stephen Humphreys
Sarah McCabe

Sarah McCabe

PERMANENT TSB was the Irish stock exchange's success story yesterday, while Bank of Ireland fell.

The lender recorded the largest percentage gains of the day, soaring 9pc to 8c. Its share price jumped by 16pc on Monday alone after it forecast a 10pc return on equity for its good bank unit by 2017 under a plan to return it to private ownership.

Bank of Ireland slipped by 2pc to 31c, its first fall in six days, after the NTMA's first post-bailout bond auction boosted confidence in the country's largest lender.

Overall, Irish stocks fell marginally. The ISEQ Overall Index was down 0.18pc or 8.72 points to 4791.76 at the close of business. Some 18 of the share prices listed on the exchange rose while another 18 fell and nine stayed static.

INM saw the second largest percentage gains of the day, adding 6pc to 16c. Travel software provider Datalex rose 4pc to €1.20. Goodbody stockbrokers has selected it as one of its top small cap picks for 2014.

SLIPPED

African-focused oil and gas miner Aminex saw the largest percentage losses, shedding 10pc to 19c. Ryanair and Paddy Power both slipped 1pc, to €6.55 and €62.46 respectively.

In Europe, stocks erased their decline in the final half-an-hour of trading as RWE rallied, leading utility shares higher.

The company jumped 5pc to €26.81 after Germany's Federal Administrative Court ruled that the forced shutdown of the company's Biblis nuclear power plant in the aftermath of the 2011 Fukushima disaster was unlawful.

The Stoxx Europe 600 Index added 0.2pc to 331.23 at the close of trading in London.

National benchmarks fell in 12 of the 18 western-European market. The UK's FTSE 100 added 0.1pc, while Germany's DAX and France's CAC 40 each gained 0.3pc.

In London, Shire added 2.8pc to £29.91pence, the highest price since its initial public offering in February 1996.

The drugmaker, whose Irish subsidiary was its first outside of the UK, predicted that 2013 earnings per share should come in at the upper end of its October forecast.

Irish Independent

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