With the Fed move nothing more than markets had expected, profit-takers moved into stock markets yesterday and the Irish market - especially financial shares - closed sharply lower. Poorly received results from Deutsche Bank did not help sentiment towards financial shares, although Deutsche's problems are not necessarily shared by others in its peer group.
Anglo Irish resumed its upward movement, closing three cents higher on €3.60, with more than three million shares trading. The two big banks, however, were weaker, with AIB down 23 cents on €13.02, while Bank of Ireland lost 29 cents to €10.51. Irish Life bucked the trend and gained 13 cents to €12.58, while First Active lost €2.21. €2.41.
Industrials were mixed. Some of the biggest volumes were in Kingspan, where more than three million shares - including
a single line of 2.6 million shares - traded as the share fell 28 cents to €4.32. CRH also traded in size, losing 18 cents to €20.12, while weaker telecom stocks left Eircom five cents lower on €2.59.
The biggest volume was in Waterford Wedgwood where 4.25 million shares traded, although price movement was minuscule - a one cent fall to €1.24. Ryanair made the biggest gain -up 49 cents to €12.25. Technology shares were mixed, with Baltimore coming under the hammer in London, falling 30-1/2p to 383-1/2p sterling.
In New York, Elan was firm and was trading $1.76 on $51.96 at the Dublin close while Iona was over $2 higher above $55. SmartForce was also firmer, while Parthus, Riverdeep and Trintech were all lower in thin volumes.
