Market Report: Stocks remained under pressure in Dublin yesterday with sellers depressing values. The market has suffered in the past couple of days from some re-alignment of investor portfolios, with some institutions offloading their Irish shares.
AIB and Bank of Ireland were traded in substantial volumes again yesterday.
AIB ended the session seven cents weaker at €13, enjoying support from investors at this level. Bank of Ireland shares shed nine cents to €10.99.
Anglo Irish Bank managed to make progress, however, with the shares adding nine cents to end the week at €13.09, although dealers said there would still be sellers in the market responding to the share placement by the bank's directors earlier this week.
Irish Life & Permanent also gave up some of its gains and closed eight cents down at €13.62. The shares had rallied strongly on the back of bid speculation, with the life assurance and banking group being linked to a number of UK banks.
Ryanair shares slipped below €5 ending the week at €4.88, down 12 cents on the day, as doubts remain about the company's performance in light of its recent profits warning.
Waterford Wedgwood shares ended unchanged at 26 cents but were the subject of one substantial deal with almost 34 million shares traded. Dealers said one European institution sold the shares in response to a bid and that neither of the parties were associated with the company.
CRH shares were weaker, closing at €16.97, down 11 cents.
Elan, which announced the completion of its recovery plan, gained 35 cents to €7.20.
Iona Technologies rose by 30 cents to €6 while Gresham Hotels rose one cent to end the week at €1.31.
Independent News & Media rose two cents to end the session at €2.11.
Fyffes, the Dublin-based fruit importer, advanced to €1.75, up three cents.
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