Posts for Ticker ‘IRL’

2010, The Year of Irish Banks! (IRE, AIB, IRL, STD, BBVA, NBG)

If today’s price action is of any indication for the full year, it seems that 2010 may be poised to be the year of the Irish banking sector.  Today’s big winners were not just banking stocks, but they were specifically the Irish banking stocks.  Shares of Irish financial stocks traded higher in New York (and local markets overseas) after reports that Finance Minister Brian Lenihan has said that he plans to stay as Finance Minister while he receives treatment for pancreatic cancer.  Lenihan is considered a prominent figure helping to oversee Ireland’s financial recovery.  The Bank of Ireland (NYSE: IRE) NYSE-listed ADR was up 17% at $8.97 as of 1:00 PM EST.  At the same time, Allied Irish Banks plc (NYSE: AIB) was up over 15% at $4.05.  This even had the The New Ireland Fund, Inc. (NYSE: IRL) closed-end mutual fund up 2.66% at $7.29 today versus the Irish exchange, the ISEQ, up 122.83 points at 3,097.76 on the day for a gain of close to 4%.  It seems that Ireland was alone in the joy compared to other troubled European market banks.
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Posted on: January 4, 2010 – 1:41 pm in ADR, Banking, Corporate Governance, Emerging Markets, Financial Stocks, Index, Regulation, Trading Alert, Value Investing, , , , , ,

S&P Cuts Ireland; Financial Potato Famine (IRE, AIB, IRL, ELN)

burning-money-pic39It is not very frequent that you see an English-speaking country take a sovereign credit ratings agency downgrade.  That would  indicate the government is one step farther away from being able to repay its debt.  It has happened in Eastern Europe and selectively in the European Union, but today a sovereign credit rating cut from Standard & Poor’s made its way to Ireland.
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Posted on: March 30, 2009 – 12:12 pm in ADR, Analyst Calls, Banking, Bonds, International Markets, Mutual Funds, , , ,