After the heavy trading of the past week, the market took something of a breather with most of the limited activity concentrated on the bigger industrial stocks.
Eircom managed a four-cent rise to €4.16 (£3.28) after results that were seen as at best indifferent and at worst at the lower end of expectations. The shares were not affected by yesterday's afternoon breakdown of its systems, which meant that large sections of Dublin's business district were left without both fixed-line and mobile phone communications.
CRH recovered 16 cents of its recent losses to close on €18.96 (£14.93) but the two big banks were quiet with AIB five cents easier on €13.65 (£10.75), while Bank of Ireland was a quarter of a cent higher on €8.75 1/4£6.89). Irish Life & Permanent was the best of the large capitalisation stocks and dealt up 32 1/2 cents to €10.62 1/2 (£8.37), recouping some of the ground it has lost in the last week against the two big banks. Anglo Irish was two cents firmer on €2.40 (£1.89) ahead of full-year results next week, while First Active added three cents to €2.40 (£1.89) even though its management reshuffle had done little to restore confidence in the group.
Elsewhere, Kerry was 10 cents higher on €11.80 (£9.29), In- dependent gained 15 cents to €4.95 (£3.90), Ryanair was also 15 cents higher on a new high of €10.75 (£8.47), although Waterford Wedgwood was four cents lower on 93 cents (73p) with the market seemingly unimpressed by the investment in a 14.9 per cent stake in Royal Doulton. On the Nasdaq Esat's latest Internet investment and management changes went down well and the shares were trading $15/8 higher on $58 (€56) as the Irish market closed. Smartforce was another stock in demand and was trading $3/4 higher on $26 (€25), although Baltimore saw some renewed small-scale profit taking and was trading $1 5/8 lower on $44 (€43).
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