AFTER the hectic days of September and early October, current trading on the Irish markets is something of an anti climax with weakening bond prices feeding through to a general lack of interest in trading on the stock market.
With the pound nudging DM2.4650 at one stage, there was selling of Irish bonds all along the yield curve. By the close in Dublin, five year gilts were down over 70p on a yield of 6.03 per cent, ten year gilts were down 80p on a yield of 6.83 per cent while long dated gilts also fell 80p to a closing yield of 7.15 per cent.
Share prices drifted aimlessly and among the financials, Bank of Ireland was unchanged on 510p while AIB was 2p lower on 376p.
CRH jumped 5p to 625p while Smurfit was 2p lower on 168p despite the better than expected third quarter results from JS Corp and positive comment on the stock from Paine Webber analyst Mr Richard Schneider.
Outside the leaders, Independent lost 3p to 325p Independent's IPCL takeover vehicle now has 9.76 per cent of Wilson & Horton with almost three quarters of the acceptances so far opting for the preference share alternative.
IAWS remained well bid on 173p after its excellent full year results.
Elsewhere, Waterford Foods was up 6p to 86p but it is not immediately apparent whether this is a response to the September milk price cut. Avonmore - which has not cut its prices - was 1p stronger on 176p while Kerry - for whom milk price is barely relevant - was 10p lower on 660p.
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