It was a mixed day's trading on the Irish market, with further weakness by Bank of Ireland and some of the other financials the main reason for the half per cent fall in the index. Industrials were generally firmer while AIB was one of the few financials to shine.
Doubts over the Alliance & Leicester merger plan continues to dog Bank of Ireland and the shares fell another 15 cents to €16.90 (£13.31) and are now down almost 17 per cent on the €20.30 (£15.99) high after the A & L deal was leaked.
Other financials were also weaker, with First Active down 26 cents on €3.33 (£2.62) while Irish Life & Permanent dropped 40 cents to €11.40 (£8.98). AIB, however, continue to benefit from positive reaction to its expansion into Singapore and gained 43 cents to €13.73 (£10.81).
Among the industrials, CRH continued to improve now that the heavy selling by Putnam seems to be at an end and gained another 25 cents to €18.10 (£14.25). Fyffes was a big beneficiary of a buy recommendation by the Investors Chronicle, and private investor buying drove the shares up 20 cents to €2.25 (£1.77).
DCC gained 10 cents to €8.00 (£6.30), Golden Vale was 2 cents easier on €1.06 (83p) while Heiton gained 10 cents to €3.10 (£2.44) mainly on the back of the stakebuilding by Grafton. Green lost 18 cents to €5.22 (£4.11), Kerry gained 10 cents to €12.00 (£9.45), Ryanair was 10 cents firmer on €8.40 (£6.62) ahead of news of the pricing of the tranche of shares being sold by the Ryans, Irish Air and Michael O'Leary while Sherry Fitzgerald - which has traded thinly since its flotation - gained 15 cents to €2.00 (£1.58).
