Market Analysis

Market Wrap: Ires shares drop on results as banks get a boost from positive report

Shares in Ires Reit pulled back 6 per cent on Friday morning after results showed debt costs were hitting their bottom line

Shares in Ires Reit are almost 13 per cent since the start of the year and 42 per cent over the past two years. Picture: Getty

Investors sold out of Ires Reit on Friday morning after results revealed the income generated by its properties fell in 2023, but positive momentum from the three banks kept the Iseq All Share in positive territory.

Shares in Ireland’s largest landlord dropped almost 6 per cent in early trading to change hands at €0.969. It is down almost 13 per cent since the start of the year and 42 per cent over the past two ...