The January fizz which drove financial shares to record levels and the overall Irish market to not far off record highs is nothing more than a memory and February looks like a month where shares prices are going to drift. The takeover talk surrounding the two big banks has now all but disappeared and overseas markets are providing little stimulus.

Reports that CRH is poised to sell its Keyline chain to Wolseley and Travis Perkins for around £200 million sterling (€290 million) had no impact on the trading and CRH was unchanged on €15.70 (£12.36). The only surprise would be if CRH splits the Keyline chain between Wolseley and Travis Perkins but the £200 million sterling suggested price tag is at the upper range of forecasts for Keyline.

Deutsche Bank began coverage of the British building materials sector and put a "neutral" tag on CRH. Hanson and Blue Circle were given "outperform" ratings while RMC was given an "under-perform" tag. Other industrials were mixed, with Smurfit continuing its strong recent run with a 2 cent gain to €1.70 (£1.34). Unidare did not trade from its overnight €1.475 (£1.16) after investor Pierce Casey disclosed that he bought another 150,000 shares to take his stake to 4.55 per cent.

Financials were generally weaker - with the exception of AIB which was 2 cents higher on €16.22 (£12.77). Bank of Ireland lost 40 cents to €18.60 (£14.64), First Active fell 30 cents to €3.95 (£3.11). Merger partners Irish Life and Irish Permanent went in opposite directions, with Irish Life up 8 cents on €8.58 (£6.75) while Irish Permanent drifted 6 cents lower to €14.10 (£11.10)