The stock market barely budged yesterday, remaining unaffected by a global rally that lifted other European equity markets as hopes grew of a swift end to the war in Iraq.
Dealers said a lacklustre performance by the two top banking stocks was the main factor behind the market's underperformance while weakness in CRH didn't help either.
Although overseas banks surged, AIB shed five cents to €12.90, Bank of Ireland managed only a six cent-gain to 9.86 while Anglo Irish was unchanged at 6.40. "The two big banks have been stuck a really narrow range all day," one trader said.
CRH had what dealers described as an "erratic" day, moving ahead only to drift back later to close 30 cents lower at 13.00.
Ryanair managed to finish higher, however, adding 10 cents to €6.25 while Galen turned in a strong performance, gaining 30 cents or 5 per cent in Dublin to 6.25 after announcing two agreements relating to dermatology drugs.
Kerry, which said it was spending $67 million on two ingredients acquisitions in the US, did not fare so well, losing six cents to €12.64.
Shares in Tullow Oil lost five cents to 1.05 in Dublin amid a mixed response to its full-year results statement while Qualceram shares were off by 10 cents to 1.05 after it posted weak figures for last year.
More than three million shares in Independent News & Media traded although the stock finished three cents lower at 1.32.
Other movers on the day included DCC, up 31 cents to €10.10 and Abbey, off 20 cents to €4.30.
