Market Report: The stock market lost ground yesterday but volume was again thin and news flow light.

Settlement Date: July 28th

Trading in the banks improved on Tuesday's levels but the price action was muted.

AIB, which announced plans to cut 10 per cent of its Polish workforce, closed just one cent lower at 12.79 while Anglo Irish Bank also gave up a cent to €8.09. Bank of Ireland lost 10 cents to 10.30 as it confirmed it was back in the market on Tuesday, buying 100,000 shares at 10.25 each.

Dealers said CRH, which briefly squeezed above €16 earlier in the week, failed to regain those levels, giving up 20 cents to 15.35.

Ryanair was another loser yesterday, shedding 13 cents to 5.80.

Among second-line stocks, dealers said Fyffes was still attracting interest, particularly among private clients, following recent acquisition speculation, although the shares added just one cent to €1.66.

Grafton gained 15 cents to 4 as more than 850,000 shares changed hands, while Independent News & Media also enjoyed reasonable volumes, with more than a million shares traded, as the stock closed two cents higher at €1.74.

Galen bounced back from its recent losses, adding 17 cents to 8.57 in Dublin.

However, DCC fared less well, shedding 16 cents to 10.52 while Jurys Doyle also fell, losing 20 cents to 8.70.

Trinity Biotech, which released second-quarter results, was unchanged at 2.85 in Dublin.

Meanwhile, retailer Arnotts became the latest company to depart the Irish Stock Exchange as the offer for the company closed and its listing was cancelled.