Investors find little inspiration on slow news day

Settlement Day: June 15th: Dublin marked time yesterday as international exchanges slowed down ahead of a US market holiday today.

The ISEQ overall index finished just over a point ahead on a day when volumes were noticeably light.

There was little in the way of corporate news to move investors, apart from AIB's statement that the results of its investigation into the overcharging on certain foreign exchange transactions would take longer to emerge than expected.

The statement came after the Dublin market closed but traders said it was likely to weigh on sentiment this morning when business resumes.

AIB ended the day close to its session high at €12.32, having moved between €12.20 and €12.37 in trading hours. Bank of Ireland fared better, adding 17 cents to €10.68.

Outside these two, however, business was very quiet among the financials. Anglo Irish Bank finished two cents weaker on €13.30 with less than half a million shares trading.

But even that was busy next to Irish Life & Permanent, where just 45,000 shares changed hands as the stock moved ahead two cents to €12.70.

Elsewhere, the only real business of the day was at Grafton , which shrugged off the news of Dairygold's intention to become a national force in the DIY stores sector. More than 1.2 million moved as the stock advanced five cents.

Among the industrials, CRH was reasonably quiet though the stock moved five cents stronger to €17.50.

Elsewhere, dealers said there was some decent buying interest in industrial holdings company DCC although it slipped five cents on the day.

There was little cheer for the recent arrivals on the exchange. Both Eircom and C&C gave up two cents to close at €1.48 and €2.28 respectively. Both are struggling to make headway, with Eircom still trading well below its flotation price and C&C hovering just above it.