ISEQ closes the week on a high over 3100
03/02/2012 at 18:39
The ISEQ closed a week of steady gains on a high, breaking the 3,100 level for the first time in nearly 18 months as fears of catastrophe in Europe faded and the US showed real signs of a rebound.
The index rose 69.50 points to 3,135.32.
European shares surged past a resistance level after U.S. jobs figures data beat expectations, raising optimism that the world's largest economy was on track for a recovery. U.S. non-farm payrolls rose at their fastest pace in nine months and the unemployment rate dropped to a near three-year low, boosting prospects for stronger economic growth that could feed through into company earnings.
Average daily turnover in Irish equities fell slightly from E133m to E131m in the fourth quarter, the Irish Stock Exchange ISE said. Overall turnover fell from E8.8bn to E8.2bn in the fourth quarter Q4 reflecting the fall in the number of days in the period 63 days compared to 66 days in Q3. Trade levels in equities showed an increase of 14.2pc in 2011 with total trades exceeding 2.4m for the year 2010: 2.1m. The average number of trades per day remained steady at over 10,000 in the last quarter of 2011 10,132 in Q4 compared to 10,367 in Q3. Market capitalisation of companies included in the ISEQ indices rose by more E20bn during the quarter reaching E86.9bn at the end of December 2011, an increase of 32.1pc in Q4 and 80.7pc over the calendar year
The world's biggest cement firm, Cemex has reported fourth quarter 2011 EBITDA core earnings of dollar 542m, comfortably ahead of both the Davy estimate of dollar 515m and consensus of dollar 525m. Fourth quarter 2011 sales rose 6.0pc year-on-year yoy with EBITDA up 13pc yoy. EBITDA margins increased by 90bps yoy. Its peer, Ireland's CRH, saw shares climb 45c to E15.78
Readymix shares were flat at E0.19 after it warned that profits will fall sharply in the full year 2011 as it takes on a E39m impairment charge
Ryanair said that it carried 6pc less passengers last month than it did in January of 2011 as it cut capacity. It carried 4.39 million passengers in the month compared to 4.66 million the same time last year. Meanwhile, it said it has stepped in to fill up the vacuum left by the grounding of Hungary's Malev and is setting up a major hub there in the next few weeks, using up some of those spare capacity aircraft it sidelined because of high fuel costs. Shares in the airline rose 9c to E4.35. Aer Lingus was flat at E0.89
Shares in Irish-Swiss bakers, Aryzta, jumped 35c to E36.00. US in-store bread sales delivered growth of 2.9pc, Davy noted. Artisan breads accounted for one-third of in-store bread sales in the US for the 52 weeks ended October 2011. Total in store bread sales rose by 2.9pc year-on-year. Leading the category was crusty/hot heart breads with a 39.2pc share. Bread's share of the total in-store bakery category was 19.1pc.