Market Report

Stocks marked time in Dublin with little or no trade in the absence of London dealing. The ISEQ Overall index closed off just 7.44 points, or 0.14 per cent on the day.

With the UK bank holiday taking London traders out of the market, volumes were negligible with only CRH managing to top the 500,000 mark ahead of results today.

The figures from the building materials group are expected to be very good, especially by reference to last year's first half, which was impacted by difficult trading conditions. Dealers reported that a lot of people have been buying the stock in recent weeks in anticipation of bumper figures but broker upgrades will depend on the outlook for the balance of the year.

The shares closed five cents lower yesterday at €18.90, having opened five cents ahead of Friday's close.

Elsewhere there was no corporate news to move the market. The leading financial, AIB, finished two cents ahead on €12.99. Rival Bank of Ireland managed to record barely 10 per cent of its usual volume of trade as it slipped two cents to €10.98.

Irish Life & Permanent, which is due to report interim figures tomorrow, was five cents up to €12.40 while Anglo Irish Bank was unchanged on €13.50.

Dealers are hoping that a raft of figures over the next few days from companies listed in Dublin will stimulate business in the market.

Kerry Group, which is also due to report results for the first six months today, added 15 cents in anaemic trade yesterday to close on €17.30.

Another food industry company, Glanbia, publishes interim figures tomorrow. It was more in demand yesterday, with almost 350,000 shares changing hands, but closed unchanged on €2.45, having dipped to €2.42 earlier in the day.

Financial services group IFG, which reports on Thursday, was eight cents off at €1, while Fyffes, which reports the same day, was unchanged at €1.79.Dublin Report