Friday, January 31 12:50:31
The ISEQ continued its roller-coaster ride this morning with investors running for safety in line with global equity markets.
By 12:30, the ISEQ was down 55.14 points to 4,629.50.
European shares were on course for their first monthly loss since August, hurt by fresh signs that the region's companies are being impacted by turbulence in emerging markets. Eequity indexes also weakened further after data showed a drop in euro zone consumer price inflation, which reinforced concerns among some investors of deflation.
The trend less credit and more debt pay-down continued throughout last year, latest figures from the Central Bank showed today. Loans to households fell 4.1pc in the year, the figures show. But Irish private sector deposits continued to rise, mainly driven by an increase in deposits from Non-Financial Corporations, it said. Household loan repayments exceeded drawdowns by E139 million during December 2013, following a net monthly decrease of E403 million in November.
UTV shares were unmoved at E3.10. Latest listenership figures show that UTV has maintained its strong market share and market leading positions in the key urban areas in Ireland. "In addition, we would note that radio remains a strong medium in Ireland with 83pc of adults listening to the radio daily. We forecast an increase of 2pc yoy at the revenue line for Irish Radio for 2014 and estimate it will account for c.30pc of operating profit," said Goodbody Stockbrokers.
Smurfit Kappa shares fell 26c to E17.29. The latest RISI pricing data shows that pricing trends in Italy are in line with those seen to date in Germany/France. Testliner and OCC grades are stable while kraftliner has declined E10/tonne, in line with the broader market.