Friday, October 18 12:36:48
The ISEQ continued its rebound this morning with modest early gains.
By 12:30, the ISEQ was up 12.15 points to 4,366.29.
The containerboard pricing environment remains very positive, driven by a combination of recovering demand (albeit this is happening slowly) and limited new capacity scheduled to come into the system over the next two years, Davy said. "In this environment, earnings momentum remains positive and cash generation strong. Shareholders will continue to benefit from these positive trends." Shares in Smurfit Kappa rose 18c to E18.28.
Davy said that the details of Origin Enterprise's tender offer are along expected lines. "Following the offer, Origin will continue to trade with healthy levels of financial flexibility. Consistent cash generation and smart capital allocation have been hallmarks of the Origin financial model. The tender offer fits well in this regard." Origin shares rose 24c to E7.09.