Dublin report: Trading was subdued on the Irish market yesterday as the Iseq slid slightly to end at its lowest closing price of the week.

A poor performance by the financials and in particular building materials group CRH added to the woes, while the mining minnows fared somewhat better after Opec cut output by more than expected.

CRH was one of the biggest losers, dropping 39 cent, or 1.4 per cent, to €27.31. Dealers attributed the fall to news from the US, where Caterpillar posted a shortfall in quarterly profit and Martin Marietta reduced its third-quarter guidance.

Sparkling performances were also non-existent among the financials, though Anglo Irish Bank was in demand with more than 5.6 million shares changing hands. But the stock was still a loser, ending down nine cent, or 0.6 per cent, at €13.90. Bank of Ireland was the biggest loser, dropping 23 cent, to 0.5 per cent, to €15.45, while AIB closed down 13 cent, or 0.6 per cent, at €21.13.

Elsewhere, the release of Ryanair's offer document for Aer Lingus mid-afternoon did little to alter the groups' share prices.

Ryanair closed up 16 cent, or 1.9 per cent, at €8.71 - around the same level it had traded for most of the day - while Aer Lingus slipped two cent, or 0.7 per cent, to end at €2.86. Dealers said Ryanair shareholders were probably relieved it hadn't decided to raise its €2.80-a-share offer.

Tullow meanwhile was a beneficiary of the Opec announcement and the ongoing positive sentiment from its investor day earlier in the week.

The shares closed up eight cent, or 1.3 per cent, at €6.08.

Over the water, trading was busy in Smart Telecom, with more than 18 million units changing hands. The stock dropped 15 per cent to end the day at 0.2 pence.