Shares were weaker on another quiet day on the Dublin market. The ISEQ Index lost 1 per cent in value with corporate activity still fairly thin on the ground.
The leading shares all lost ground, with AIB and Bank of Ireland hit by profit-taking after a good run. AIB lost 11 cents to close at €12.37. Bank of Ireland managed to recover to end the session down just one cent at €10.44.
Other financial stocks enjoyed mixed fortunes. First Active shed one cent to close at €3.25 while Irish Life & Permanent bucked the trend adding one cent to €13.25.
CRH went ahead gaining 14 cents to €19.54 while Smurfit was three cents better at €2.38. Elan was weaker in Dublin with the shares drifting down to €60.7, down €2.35, and was weaker in New York where small amounts of the shares were being traded. Much of the losses in Dublin were driven by the slide in Elan, which accounts for about 25 per cent of the value of the ISEQ index.
Eircom didn't trade, remaining at €1.34. Ryanair moved lower closing 21 cents weaker at €11.02 following a downgrade from stockbrokers WestLB Panmure based on concerns about the pace of growth going forward for the no-frills airline.
Another loser on the day was Riverdeep, which lost 41 cents. Some 2.8 million Riverdeep shares traded yesterday with private investors selling to institutions. Iona Technologies went higher, moving up €1.25 to €18.
Fyffes managed to make gains adding seven cents to €1.28. The stock was helped by news of an impending strike at its rival Chiquita which could affect the supply of bananas. Galen was another stock on the move, gaining 20 cents to end at #11.70.
