MARKET REPORT: The market lost out on the lift experienced across the rest of Europe yesterday, with weakness in the main financials once again weighing down the overall index.
Dealers said investors appeared to have little trust in the idea of a market rally.
On a day where company news was limited, most excitement was concentrated in Ryanair, which rose after releasing positive passenger numbers for September. The stock ended the day 17 cents higher at €6.00 on volume of 2.5 million shares.
The strength was not shared by fellow market heavyweight CRH, which dropped 15 cents to 15.20, having failed to hold to hold on to any of Wednesday's gains in a late sell-off.
Kingspan had a better day as it rose three cents to €3.35, while Grafton added the same margin and closed at 4.85. Heiton strengthened by seven cents to 3.35 on relatively low volume.
Independent News & Media was among the busiest stocks on the day, with 4.4 million shares changing hands. The company, which has had difficulty breaking through the 1.75 barrier of late, added three cents to finish at €1.73.
Heavy volume was also recorded in Fyffes, which fell one cent to 1.52 after 3.6 million shares were traded, much of it in one block.
In the financials, most business fell to Bank of Ireland, which weakened by nine cents to close at 10.25. AIB also suffered, marking a decline of 17 cents as it finished at 12.38. Anglo Irish Bank continued to display solidity as it climbed 11 cents to €9.39, while Irish Life & Permanent finished unchanged at 11.25. First Active rose three cents to 4.75.
Elsewhere, Kerry Group performed well on volume of 125,000 shares with a 15-cent jump to 14.60. In the same sector, Greencore dropped one cent to €2.82, while Glanbia rose three cents to €1.93.
Waterford Wedgwood, which filed its 20-F with the US Securities & Exchange Commission yesterday despite fears of delay, rose two cents to 29 cents.
