As Eircom's disillusioned shareholders count down the days to their big day out at the September 13th a.g.m., they will hardly be reassured by the knowledge that their shares hit yet another new low yesterday, falling six cents to €2.52. At this level, they are now down over 35 per cent on the €3.90 flotation price and almost half the €5.00 high.

Other shareholders got a bit more joy in what was a thin day's trading among the financials although selected industrials saw some busy dealing. Waterford Wedgwood's half-year numbers were comfortably ahead of forecast, with the result that the share gained three cents to a two-year high of €1.29. Turnover was 2.2 million shares.

The most active stock was Smurfit which continued its recovery, with the market taking a more benign view towards container-board inventories in the US and resulting container-board prices. Over six million shares traded as the share gained two cents to €2.30.

There was also sizeable trading in IWP where over 2.4 million shares dealt as the share lost five cents to €1.60. With little institutional interest in the shares, the size of the trading in IWP suggests that the company may have been back in the market buying in shares. If so, an announcement should follow shortly.

Otherwise, it was pretty thin stuff with minimal price changes. Greencore gained two cents to €2.99 - boosted by its latest consumer foods acquisition in the UK, while Ryan gained five cents to €1.13 as corporate developments are awaited.