A Review of Irish ADRs’ Performance YTD

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 dot 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). C&C is a major leader in the cider market with its Mangers and Bulmers brand.

The New Ireland Fund (IRL), a closed-end fund closed at $6.54 yesterday. The fund used to trade for $35+ in early 2007. It is interesting to note that despite The Wall Street Journal calling 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 as well.

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