Tuesday, September 17 17:34:27
The ISEQ's closed the day unchanged as investors took profits and as markets awaited more signals from the US Fed on its stimulus policy direction.
The index was down 0.86 of a point at 4,276.49.
European shares edged lower today, pressured by weakness in carmakers following a fall in demand for autos last month, but the market remained close to 5-year highs after a strong rally. Eyes were on the U.S. Federal Reserve ahead of a policy meeting expected to confirm a slowing down of its stimulus programme.
Ryanair shares rose 8c to E6.49. Ryanair has concluded a ten-year growth deal at London Stansted with new owner Manchester Airport Group (MAG). This will enable it to grow by 50pc from 13.2m passengers per annum to over 20m in return for a "package of lower costs and more efficient facilities". This growth would cover circa one-quarter of the airline's medium-term growth plans for 110m passengers; as such, we view the deal as underpinning the group's very substantial growth potential.