The ISEQ yielded a little over half a percent in value in another day of thin trade which was notable for the dramatic turnaround in Powerscreen's fortunes after a sterling bid on Thursday signalled a halt in the share's descending path. About 2.5 per cent of Powerscreen's shares changed hands in London which saw the price increase by 30p to 100.5p sterling (117p), a 111 per cent increase in two days.
One dealer said that the increased availability of information including KPMG's report and the £50 million sterling disposal programme had instilled confidence in investors. Elsewhere, the main interest was in the financials where Bank of Ireland shed 17p to £13.38, AIB lost 9p off its 832.5p sterling opening price, closing at 963p and Anglo Irish Bank lost 3p, going to 186p.
"We're seeing some buying interest in the bigger stocks but investors are clipping their bids back a little," one trader said. "Overseas markets look distinctly peaky but the Irish market is not under huge pressure."
Irish Life held its ground at 618p as did Irish Permanent on 845p, but Norwich slipped 33p, or 6 per cent, to close at 515p. Leading industrial stocks were also targets for some sell offs, with CRH closing almost 14.5p down at £10.65, Smurfit shedding 3p, to 237p.
Among the second-liners In- dependent Newspapers losing 5p and going to 435p.
:quality(70)/cloudfront-eu-central-1.images.arcpublishing.com/irishtimes/VR3765MFOBH2NMV2QNICYDF67M.png)