DUBLIN REPORT: Iseq: 3,342.18 (–13.51) Settlement date: April 20thALTHOUGH WORLD markets were more buoyant yesterday on the back of positive economic data, the Irish market weakened slightly to finish at 3,342.18.

Oil and exploration company Petroneft Resources succeeded in attracting plenty of buying interest after releasing an operations update yesterday morning. The company, which trades on the IEX junior market, said that results from its first production well were positive, and that its pipeline construction is substantially completed. The stock finished the day up more than 7 per cent at 39 cent.

Tullow Oil was also firmer on the day, with its London line gaining almost 1 per cent to close at £13.28.

The two main banks were also positive on the day. AIB was up almost 4 per cent, or 6 cent, at €1.61, while Bank of Ireland added close to 3 per cent, or 5 cent, to €1.72.

However, it is expected that these stocks will lack direction until it becomes clear whether or not Bank of Ireland’s restructuring plan will win the approval of the EU.

Elsewhere, Glanbia faltered yesterday, slipping close to 2 per cent, or 5.5 cent, to just under €3.15. One broker attributed this decline to a media report which seemed to throw doubt on the likelihood of the Glanbia co-op achieving the majority vote required to approve the proposed takeover of the company’s Irish division.

Cement giant CRH proved the most active stock on the day. However, although the stock reached the €19 mark during the session, it had fallen back to €18.91.

Kingspan lost its recent good form yesterday and gave up a bit of profit. The stock closed at €7.24 after dropping almost 3 per cent, or 21 cent.

United Drug was also off on the day, closing down 9 cent – more than 3 per cent – at €2.68.