Financial shares turned sharply weaker on the Dublin market, and even a statement from Bank of Ireland downplaying the threat to the credit card market from the likes of Tesco and MBNA failed to prevent the bank's shares tumbling 36 cents to €6.36.
The looming threat to credit card business is only one factor depressing financial shares, and dealers said there was no buying interest even at these low levels. AIB lost 23 cents to €9.90, First Active fell 10 cents to €1.90 while Irish Life lost 16 cents to €8.45.
Leading industrials were also weak with CRH slumping 70 cents to €18.60 while Smurfit was five cents lower to €2.10. The planned KPN share and the decision by Telia to retain its 14 per cent stake continues to weight heavily on Eircom which closed five cents lower on €3.20 after initially perking up to €3.30.
Fyffes remained totally out of favour and was down five cents on €1.50 while Ryanair fell 25 cents to €8.75.
Technology shares were mixed, but the most recent arrival on the markets - Parthus - had a bumper day rising as high as £1.80 sterling in London before closing up 17 1/2p on £1.59. Those gains were followed by further rises on Nasdaq where the share was trading over $1 higher in midday trading at just below $23 1/2. Baltimore was 37p higher on £4.55 sterling but was trading marginally lower on Nasdaq, while Trintech gained €1.70 to €21.90 on the Neuer Markt but was trading lower on the New York market.
