Market report: Corporate news continued to filter into the Dublin market yesterday with Fyffes and Horizon announcing results.

Fyffes profits were at record levels boosted by strong trading in Europe and property sales. This performance was well received although the shares dipped.

By close of business, Fyffes shares were 4 cent lower at €2.21. The shares had enjoyed a good run ahead of the results and dealers said the weakness was being driven by uncertainty about the prospects for the banana regime.

Horizon also brought in a good set of results, showing a 22 per cent increase in earnings, which was in line with market forecasts. The shares moved ahead following the news and ended at €1.22, 2 cent higher.

In other news, Arcon announced a merger with the Canadian Lundin Mining for $123 million (€94 million).

Arcon shares shed 2 cent in Dublin yesterday after the announcement to close at 55 cent, which is above the 53.8 cent per share offer.

Elan fell further in Dublin with the shares losing 73 cent on the day to end at €5.57.

The stock took another tumble when the US markets started trading, leaving dealers nervous about its prospects when the market opens here today.

The stock weakened on the back of a raft of selling in the US and there are concerns about how much further the stock could fall.

The financials were relatively quiet.

AIB closed 5 cent better at €16.30, Anglo Irish Bank was up 22 cent to €20.32 and Bank of Ireland rose 18 cent to €13.19. Irish Life & Permanent was unchanged at €14.85.

CRH was off 6 cent at €21.14 while Eircom lost 2 cent to €2.12.

Ryanair weakened in early trading as concerns about fuel prices continue to hit the stock. But a 13 per cent increase in passenger numbers in February and load factors of 79 per cent lent some support, leaving Ryanair unchanged at €6.05.

Settlement Day: March 6th