The table below lists the Year-To-Date (YTD) performance of the exchange-listed Irish ADRs:
|S.No.||Company||Ticker||Sector||YTD Returns as of Nov 24, 2010|
|1||Allied Irish Banks||AIB||Banks||-71.23%|
|2||Bank of Ireland||IRE||Banks||-79.37%|
|4||Elan||ELN||Pharma. & Biotech.||-17.94%|
|6||Ryanair||RYAAY||Travel & Leisure||15.59%|
Similar to Anglo-Irish Bank investors, Allied Irish Banks (AIB) and Bank of Ireland (NYSE:IRE) common investors may be wiped out if Ireland nationalizes these beaten-down banks. CRH (NYSE:CRH) is in the construction and materials industry, so it can be avoided until the dust settles on the current crisis. Among European discount carriers, Ryanair (NASDAQ:RYAAY) operates a vast network and has an efficient management team.
Elan (NYSE:ELN) used to be a high flier during the dotcom era, but later crashed hard and now trades in the single digits. Another stock worth keeping an eye on is the Irish beverage maker C&C Group plc (OTCQX:CCGGY), a major leader in the cider market with its Magners and Bulmers brands.
The New Ireland Fund (NYSE:IRL), a closed-end fund, closed at $6.54 yesterday. The fund traded for $35+ in early 2007. It is interesting to note that despite The Wall Street Journal's naming Ireland as one of the countries having “the most innovative financial industries," Irish lenders have a hard time staying afloat. The Luck of the Irish did not work so well for investors in Irish bank ADRs, either.
Disclosure: No positions