AIB's 27 cent drop attributed to Stateside factors

Market report: Eugene Sheehy's appointment may have been the biggest news on the Dublin market yesterday, but dealers said reaction to it had been more "benign" than anything else.

AIB's share price did suffer on the day, but this was blamed on US economic factors that hit the wider European banking sector rather than on internal news. Shares in the bank dropped by 27 cent to €15.63, or 1.7 per cent.

Bank of Ireland fell by the same measure, closing 23 cent weaker at €12.68.

The smaller Irish financials fared better, with Anglo Irish unchanged at €20.00 and Irish Life and Permanent steady at €14.50. In better shape again was Kerry Group, strong on the back of acquisition expectations. Shares in the food group climbed by seven cent to €17.72.

IAWS, which reports full-year numbers on Monday, was less solid as it fell by 11 cent to €11.78. Analysts are expecting continued good growth from the firm's bakery operations and a more muted performance from agribusiness. The firm's Canadian joint venture with Tim Hortons is known to be recording good sales growth.

Qualceram also reports on Monday, having disappointed the market with a trading update in December. Shares in the firm were unchanged at €1.30 last night.

Elan gained back some lost ground by climbing by 14 cent to €5.79. The firm's partner in Tysabri, Biogen, has expressed determination to continue working on the drug despite a patient's death.

CRH was weaker as the dollar remained under pressure, closing 18 cent lower at €20.40.

Ryanair was meanwhile hit by higher prices for jet kerosene. Shares in the airline fell by four cent to €5.88. Eircom was one of the busiest stocks on the day, but most demand was on the downside, with shares finishing five cent lower at €2.00.

Grafton lost 26 cent to close at €9.44, despite producing strong results on Wednesday.

Jurys, which reported last week, fell by 31 cent to €11.60.

Settlement Day: March 15th