Irish shares were weaker overall yesterday with trading relatively quiet. Eircom continued to dominate the news in the markets with the shares hitting new trading lows during the day of €2.58 before recovering to close at €2.70 down eight cents. Dealers estimate around six million shares were traded on the day with some investors selling the shares preferring to put their funds elsewhere while buyers were taking up the shares in the hope of a short-term bounce.

AIB came under selling pressure with the shares closing at €9.05 down 31 cents on the day. The bank has outperformed Bank of Ireland in recent months but it is concerns following profit warnings from some US banks, which are affecting the bank at the moment. Allfirst, AIB's US division is expected to be unscathed at this stage but the less favourable outlook for that market is weighing on the stock.

Bank of Ireland was fractionally weaker closing at €6.63 down two cents. Fruit company Fyffes also turned weaker losing six cents to close at €1.09 with dealers reporting some selling of the shares as investors put funds into stocks such as Greencore and Kerry. Both of these stocks traded higher with Greencore up 10 cents to €2.80 and Kerry closing at €13.70, up 25 cents.

Among stocks unaffected by the weaker sentiment was CRH which ended the day up 35 cents at €18.85.

Others faring well on the day include, Smurfit which ended up one cent at €1.86, and Ryanair, which gained 10 cents to close at €7.50. The Jury Doyle hotel group saw its shares rise by eight cents to 6.28 ahead of results next month.