Financials slip while Galen and CRH have a good day

Dublin ended the week with a session that saw it torn between the gains being made in Europe and the volatility undermining the US market following the revelation of even bigger problems at WorldCom and worry about the impending deadline for chief executives of major US corporations to certify the accuracy of their financial statements. In the end, Dublin finished the day 15.09 points, or 0.35 per cent, ahead.

Trading was light through most of the day, although there was reasonable activity in AIB and Irish Life & Permanent towards the end of the day. AIB ended down 12 cents on €3.13, although this was from a €3.25 close on Thursday that was not representative of the stock's previous trades. Irish Life & Permanent was ahead eight cents at €12.25.

Elsewhere in the financials, Bank of Ireland was down three cents at €11.80 having started the day at €11.95 and sinking as low as €11.60. Anglo Irish Bank slipped six cents to €5.98 and First Active was back nine cents at €1.80 after recent gains.

Among the industrials, CRH had a good day, recovering 55 cents to €14.65 after a period of drift. Galen, too, was a winner, adding 12 cents to €5.82 as the stock continues to gain following a positive set of results after suffering due to links with Elan and research critical of hormone replacement therapy.

Gresham, however, was not so lucky, giving up four cents to 68 cents in good volume a day after an extraordinary general meeting backed a boardroom coup that kicked four of its directors off the board.

Grafton rose again as the market mopped up the remains of a block of shares on offer. The stock gained two cents to €3.85.