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ISEQ closes flat after yesterday's rise

Wednesday, April 02 17:37:28

The ISEQ closed the day unmoved after yesterday's sharp gains but managed to remain well above the 5,000 level.

The index was up 0.71 of a point to 5,080.98.

World stocks extended their recent rally and the safe-haven yen sagged to a 10-week low, as investors focused on the positive in a mixed bag of global economic data. Trading was largely cautious before Thursday's meeting of the European Central Bank and Friday's U.S. jobs numbers. Both could move markets significantly.

At home, shares in Mincon fell 7c to E0.96 after the Shannon-based engineering company this morning reported an 18pc increase in operating profit before exceptional items for the year to the end of December, despite a dip in revenues from currency fluctuations. The company, which specialises in the design, manufacture, sale and servicing of rock drilling tools and associated products, posted operating profits of E15m on the back of significant shareholder payments in the previous year. Buts its gross profit fell by 1.2pc to E25.7m as revenues fell by 17pc to E52.343m from E63.143m in 2012.