DCC and United Drug gains lift Iseq over 1%

Iseq: 3,005.43 (+32.51) Settlement date: May 13th:AGAINST A background of ongoing uncertainty about a new deal for Greece, markets rose yesterday, with the Iseq advancing 1.1 per cent, or 32.5 points, to finish the day at 3,005.43.

Despite trading announcements from several companies, however, volumes overall were quiet.

DCC reported solid first-half year results, with its pre-tax profits rising by 15 per cent to €189.6 million. It advanced by 19 cent, or 0.9 per cent, to €22.44.

Healthcare services firm United Drug also had a good performance, meeting expectations with its first half-year results, leading to a 2 cent, or 0.9 per cent rise in its share price, which rose to € 2.32. However, volumes were quiet, and as one analyst noted, there was not a “whole heck of interest” in the stock.

Food group Kerry added 4 cent, or 0.14 per cent, to advance to €28.94, following the release of its interim management statement. It disclosed a “solid” financial performance for the first quarter of the year, despite the increase in raw materials and input costs.

Following the announcement that it would sell its drug formulation and manufacturing unit in an estimated $960 million deal, pharmaceutical firm Elan share price rose 26 cent, increasing by 4.7 per cent to finish the day at €5.72.

Media group Independent News Media continued its good run, adding 3 cent, or 6.6 per cent, to advance to €0.62.

In the construction sector, CRH added 10 cent, or 0.6 per cent, to finish the day up at € 16.61, while Kingspan added 15 cent, or 2.3 per cent, to close at €6.55.

Ryanair lost ground, following poor results from Easyjet, and it gave up 8 cent, or 2.3 per cent, to finish at € 3.52. Aer Lingus was also down, losing 1 cent, or 1.2 per cent, to close at 0.83.

FBD gave up 40 cent, or 5.5 per cent, to close down at €6.90.