Building materials company CRH was once again the busiest stock on the Iseq index of Irish shares today, as expectations continued that a large buy order for the stock on foot of its entry into the Dow Jones Dividend 30 Index would boost the stock.
But investors who tried to get in ahead of the buy order in anticipation of a share price rise may have been disappointed by the stock's performance.
It closed at €16.40, down 10 cent on the day before, ending what one Dublin-based dealer said was a surprisingly good run for the stock since the release of its negative trading statement on Tuesday.
Davy Stockbrokers reduced its full-year earnings forecasts for the stock by 23 per cent.
Overall, the Iseq index finished down almost 1 per cent on another unspectacular day for stock markets across Europe, as a rally in New York into the close of trading on Wednesday night failed to significantly lift the mood this side of the Atlantic.
Unlike Dublin, however, the London, Paris and Frankfurt stock markets all managed to finish the day in positive territory.
Volumes in Dublin remained on the quiet side.
After losing ground on Wednesday, paper and packaging group Smurfit Kappa emerged from today's trading session with gains of 5.6 per cent, closing at €3.38.
There was also a reversal of fortune for Bank of Ireland, which saw the previous day's gains wiped out in a 7.3 per cent fall to €1.34. AIB fell 5.2 per cent to €1.36, but Irish Life & Permanent contained its loss to 3.8 per cent, closing at €2.78.
Drinks group C&C enjoyed a 2 per cent rise one day after its weather-boosted trading statement, as Goodbody Stockbrokers upgraded its earnings forecast for the stock. It closed at €2.34.
Elsewhere, there were gains for two housing-related stocks, Kingspan and Grafton, but builders McInerney slipped.
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