Dublin report:Featureless was how one Dublin trader described the market yesterday as the Iseq traded above the 10,000 level for the early part of the day before falling back to close down at 9,968.
A surprise increase in consumer prices in the US was the reason for the reversal in sentiment as the figures revived fears over the outlook for inflation in the region.
Closer to home, there was little news to attract attention, with most of the Iseq's components ending the day in negative territory after losing gains they made at the start of the day.
Bank of Ireland and Anglo were two of the few stocks to hold on to some of their gains, with Bank of Ireland leading the way and closing up 20 cent, or 1.1 per cent, at €18.65 after rising as high as €18.83 earlier in the day.
Dealers attributed the gains to the positive results from UK group Alliance & Leicester and the read-through for Bank of Ireland's UK mortgage business. As many as 2.6 million shares changed hands.
Anglo meanwhile rose 16 cent, to €16.64, before falling back to close up 12 cent at €16.60. As many as 3.3 million shares traded.
AIB closed unchanged at €23.95 after rising as high as €24.93 earlier.
Aer Lingus was also a gainer, adding 21 cent, or 1.5 per cent, to €2.77. Ryanair flew in the other direction as the stock was again in focus with as many as 3.1 million shares changing hands.
The stock closed down 10 cent, at €12.35. Dealers said the upcoming share split is focusing attention on the company.
Other stocks such as CRH and Kingspan were down in line with the market at €33.71 and €20.57 respectively, while Elan continued the declines it made on Tuesday, closing down 28 cent, or 2.6 per cent, at €10.66.
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