After jumping almost 20 per cent in the previous two weeks as investors moved back into value stocks, CRH was hit by a bout of profit-taking yesterday and lost 70 cents to €18.55. Turnover, however, was less than 600,000 shares and the attitude in the market towards CRH remains positive.
Most of the leaders were slightly weaker, with AIB easing two cents to €12.90 while Bank of Ireland lost 14 cents to €9.71 in volume of almost three million shares. Eircom was one of the exceptions, edging ahead five cents to €2.89 as was Smurfit which was three cents higher on €2.06.
There were some noteworthy movers among second-liners, with Glanbia jumping seven cents to €0.56. Fyffes was unchanged on €0.82 as two million shares traded. Any sizeable trading in Fyffes shares will immediately lead to suspicions that the McCann family are back in the market buying shares.
Last week's big deal in Oakhill was explained when former Adare finance director Mr Peter Lynch disclosed that he now owns an 8.7 per cent stake in the printing group. Dealers believe that the only logic in buying into a small plc like Oakhill - market cap €13 million - is to take it private.
Kingspan was seven cents higher on €3.6 after disclosing a €137 million acquisition in the United States, Kingspan's biggest acquisition yet.
Technology shares were generally weaker as Nasdaq took an early tumble. Losses among the Irish shares, however, were modest.
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