MARKET REPORT - DUBLIN

THE Dublin market was largely unchanged yesterday with little trade, curbed by market reaction to stronger than expected US inflation figures.

The big news of the day was that Avonmore Foods had approached Waterford Foods about a possible takeover or merger. This caused Waterford's share price to jump 20p to 100p. If the two got together they would have a combined turnover of close to £2.5 billion. Avonmore's price also rose, though not as dramatically. It was up 7p at 235p.

Elsewhere in the food sector Golden Vale, which announced disappointing results this week gained 5p to close at 65p Greencore finished down 1p at 345p and Kerry was unchanged at 630p.

In the financial stocks, AIB dropped 2 1/2p to end the day at 444 1/2p while Bank of Ireland gained 1p to finish at 641p, having gone as high as 645p at one stage.

Woodchester traded down 5p at 270p. Irish Life shares slipped 2p to 330p while Irish Permanent shares closed unchanged at 601p.

Irish Continental performed well and its share price rose 9p, closing at 560p.

In the exploration stocks, Tuskar Resources opened up a 1/2p at 8p and finished at 834p, while Dana Petroleum traded up 4p at 26p. Arcon, which recently began shipping zinc from its mine in Galmoy, Co Kilkenny, traded unchanged at 47p.

Hotel group Jurys rose 5p to 345p.