Aryzta fell almost 45 per cent in the first three months of the year, leading the Iseq20 index lower as it endured its first quarterly decline since the Brexit vote in June 2016. Bucking trendOrigin Enterprises, Kerry Group and AIB make up the other three worst performers on the Iseq20 so far this year, falling 16 per cent, 12 per cent and 11 per cent, respectively. The index declined by 6.5 per cent, marking its first decline in seven quarters. Bucking the trend, Smurfit Kappa led advancing stocks, gaining almost 17 per cent, after the cardboard box-making group disclosed that it had received two unwanted bid approaches from US rival International Paper. The Memphis-based company has said it hopes that management at the company will engage, with speculation mounting that the suitor may turn hostile and go directly to Smurfit Kappa shareholders.

Source: The Irish Times April 01, 2018 17:37 UTC