Dublin report:The Irish market ended the week with its eighth consecutive day in the red yesterday, leaving the main index more than €8 billion lighter than it was this time last week.

The Iseq index of Irish shares closed down 0.2 per cent after falling more than 1 per cent earlier in the day. At 9,256, it is down 6.6 per cent on the week.

While the moves were purely motivated by overseas sentiment, rumours about C&C's Magners cider being removed from the JD Wetherspoon pub chain in the UK exacerbated the mood.

Shares in the drinks group tumbled 4.7 per cent with 6.6 million shares changing hands on the back of the speculation.

Both companies denied the rumour, which most likely emanated from a JD Wetherspoon report saying it sells more Swedish Kopparberg cider than Kopparberg sells itself in Sweden.

Dealers agreed there was no substance behind the rumours, but said that in this market it doesn't take much to cause sharp moves in a stock. The shares closed down 49 cent, at €10.05.

Dealers also reported decent two-way activity in Anglo Irish Bank as 4.2 million shares changed hands. The stock fell 35 cents, or 2.2 per cent, to €15.40.

The other financials fared better, with Bank of Ireland adding 35 cents, or 2.1 per cent, to close at its daily high of €17.05.

AIB too was a gainer, closing up just four cents, at €21.69, though on the week the stock is down more than 7 per cent.

Dealers said some investors were using the recent declines as a buying opportunity, though on the whole sentiment remains cautious, they said.

Concrete group Readymix was up 3.6 per cent, or 10 cents, at €2.88 after reporting a 32 per cent increase in 2006 pretax profits. Volume was light.