Market Report:Although it got off to a promising start, the Irish market ultimately continued to clock up losses yesterday, with the Iseq falling a further 45 points to 9,431, as concerns over the health of the housing market persisted.
Not surprisingly, construction stocks were among the biggest losers yesterday, with a wave of sellers pushing McInerney Holdings down to €2.59, a drop of 1.89 per cent, or 5 cent.
CRH didn't escape either, falling by 35 cent - almost 1 per cent - to close at €35.60, while DCC slid down 3.70 per cent, 91 cent, to finish at €23.72.
In light of the prevailing sentiment, Kingspan put in an impressive performance, managing to add 17 cent to its share price, bringing it to €21.25.
While construction stocks in general bore the brunt of the continued downturn, food group IAWS was one of the worst hit on the day, plummeting 4.73 per cent, or 82 cent, to €16.50.
The newest entrant to the stock exchange, IAWS spin-off Origin Enterprises, dipped 9 cent to €3.50.
Bank of Ireland was one of the few financial stocks to withstand the general trend evident yesterday and finished up 5 cent, or 0.33 per cent, at €15.20. Allied Irish Banks was fairly flat on the day, slipping by just 1 cent to close at €21.17.
Anglo wasn't as fortunate, however, and traded down 39 cent - or 2.29 per cent - to €16.63.
Ryanair had another poor day, although not quite as spectacular as its mid-week nosedive following its profit warning. The no-frills airline continued to lose altitude nevertheless, and fell by a further 4 cent - or 0.8 per cent - to close at €4.98.
