Morning sees ISEQ nudge five points higher
The Dublin stock exchange had a quiet morning with a modest five-point rise by 11am.
The ISEQ stood at 8,510.62 after an increase of 5.25 points.
Low-budget airline Ryanair this morning were forced to change its contract terms “to give air travellers a fairer deal” by competition chiefs in the UK today.
The changes affect Ryanair’s liability for flight delays and cancellations, lost luggage, and damaged luggage and follow action by the Office of Fair Trading (OFT).
The OFT was concerned that Ryanair’s options to travellers in the event of a flight delay or cancellation did not reflect consumers’ full rights under EU rules. Ryanair has now amended its terms.
Ryanair's stcock stands at €8.62, a slight two-cent increase. Rival Aer Lingus was stable at €2.88. SIPTU workers at Aer Lingus are to stage a protest outside the Dáil this morning to highlight their opposition to Ryanair's takeover bid.
Yesterday, businessman Denis O'Brien announced that he had bought up 2.1% of Aer Lingus shares for €32m in a move to prevent the takeover.
The financials all saw their share prices drop with Irish Life and Permanent down 11c to €19.29 and Bank of Ireland falling 10c to €15.75. AIB slipped six cents to €21, while Anglo Irish Bank were nudged downwards by four cents to €13.80.
Elsewhere, building material group CRH had the largest increase of the morning with a 26c increase to €27.59. Insurance firm FBD and bathroom products company Qualceram Shires both had 10c increases to €40.10 and €1.60 respectively.
Food giant Kerry Group saw their stock fall 14c to €19.06.
