Solid gains on international markets failed to follow through to Dublin yesterday, where share prices were generally weaker with little sign of institutional interest. The exceptions were two of the financial stocks, AIB and First Active. The continuing surge in British financial shares on the back of a contested bid for NatWest has given AIB a boost and the shares jumped 26 cents to €11.90 (£9.37).

AIB is seen as the most likely of the big Irish banks to become involved in any consolidation in the Irish/British banking industries, despite Bank of Ireland's move earlier this year to merge with Alliance & Leicester. That was reflected in a 16 cents fall in the Bank share to €7.84 (£6.17).

The statement that it is planning a major cost-cutting programme to help restore the margins cut by the forced reduction in mortgage rates boosted First Active 11 cents to €2.58 (£2.03), while Irish Life & Permanent - seen as a likely potential bidder for Ulster Bank - was unchanged on €10.15 (£7.99).

Among the industrials, Waterford Wedgwood was one cent easier on 98 cents (76p) - chairman Dr Tony O'Reilly has disclosed that he bought 250,000 shares last week to take his stake to 20.2 per cent. Independent added 5 cents to €4.75 (£3.74) as deputy chairman Mr John Meagher disclosed that he has sold 600,000 shares at €4.70 (£3.70).

ILP was unchanged on 44p (35 cents) - Mr Justin Burke's Alert Packaging has bought another 200,000 shares at 26p sterling to increase its stake to 8.4 per cent. Ulster Television was unchanged on 186p sterling after good interim results. Trintech remained firm on the Neuer Markt and Nasdaq. On the Neuer, the shares traded up to a high of €15.99, before closing on €14.85, a gain of 30 cents on the day. As the Irish market closed, Trintech shares were ahead 81 cents on Nasdaq on $14.75 (€14.18).