ISEQ Challenge Results December 2008

The ISEQ finished up for the month and the year yesterday morning at 11. Here is the latest table for the ISEQ Challenge amongst the Fourth Years. Once again, our initial investments are being whittled away generally so well done to those whose companies improved in December (positive % in green). As for the big risers and fallers, much was a consequence of the pork crisis in December. Both the Kerry Group and Donegal suffered badly whereas Glanbia's decision to sell its pigmeat business in a management buy-out to Rosderra Meats last March helped it avoid any hit. However, more importantly, it was named as the Business & Finance Company of Year for 2008 before Christmas so its sudden increase is understandable. Aryzta's almost 10% jump follows an earlier drop in their December price, due to a downgrade to "sell" from "neutral" by Goldman Sachs which pointed to its over-reliance on the US market and on premium goods. Needless to say, the banks are the biggest fallers, which is to be expected in the current climate. At least nobody bought shares in Anglo-Irish!

We will add The FTSE Challenge when we return next Wednesday.