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% |
| 3 | CRH | CRH | Construct.&Materials | -29.64% |
| 4 | Elan | ELN | Pharma. & Biotech. | -17.94% |
| 5 | ICON | ICLR | HealthCareEquip.&Ser | -6.49% |
| 6 | Ryanair | RYAAY | Travel & Leisure | 15.59% |
| 7 | Trinity Biotech | TRIB | HealthCareEquip.&Ser | 98.51% |
| 8 | Trintech | TTPA | Software&ComputerSvc | 97.56% |
Similar to Anglo-Irish Bank investors, Allied Irish Banks (AIB) and Bank of Ireland (IRE) common investors may be wiped out if Ireland nationalizes these beaten-down banks. CRH (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 (RYAAY) operates a vast network and has an efficient management team.
Elan (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 (CCGGY.PK), a major leader in the cider market with its Magners and Bulmers brands.
The New Ireland Fund (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
