MARKET REPORT: The Irish stock market barely budged from Monday's closing levels yesterday as overseas markets provided little direction ahead of the quarter-end and Friday's key non-farm payrolls data.
Settlement Day: April 2nd
Domestic newsflow was also light. Elan provided one of the few features of the day after announcing plans to sell the north American rights to its Frova migraine treatment to British biotech group Vernalis for $55 million (€45.13 million).
The shares closed 10 cents lower at €16.40 as the group said it planned to concentrate on the launch of other key drugs such as Antegren and Prialt.
Among the leaders, CRH shares were unchanged at €16.60 despite receiving a positive broker report from Goodbody, which raised its share price target for the stock to €21.60.
Ryanair lost eight cents to €4.65 as the stock suffered from negative sentiment toward the sector in the wake of the recent terrorist attack.
In the financial sector, Irish Life & Permanent gave up some ground following its recent rally on the back of takeover speculation. It closed 25 cents, or 1.9 per cent lower, at €13.15.
AIB continued to edge ahead, adding 15 cents to €12.22, Anglo Irish was up 13 cents to €12.87 but Bank of Ireland closed four cents weaker at €10.25.
Some of the smaller stocks in the sector also drifted off with FBD losing 35 cents, or more than 2 per cent, to €14.75.
IFG was down by three cents, or nearly 3 per cent, to €1.02 ahead of its results on Thursday.
Dealers said volumes in Eircom had dwindled to little more than one million as the shares did little, closing one cent lower at €1.46.
Qualceram shares closed unchanged at €1.75 after the group announced 2003 results, including the resumption of dividend payments.
IWP, which announced it had completed the disposal of the Skiffy Group to Bunzl, also held steady at €0.32.
