DUBLIN REPORT:Iseq: 2,884.23 (–10.76) Settlement date: July 14th

INVESTOR JITTERS over the global economy receded somewhat yesterday but the Irish market missed out on a European equity rally driven by the improvement in sentiment.

In fact the Iseq was one of the weakest indexes on the day, slipping almost 11 points to 2,884.23. This poor performance was mainly due to the continued weakness of CRH, which has been under pressure since releasing a disappointing trading update earlier in the week.

CRH lost more than 1 per cent, or 17 cent, to finish at €15.53, making it one of the worst performers in the cement and construction sector on the day.

Kingspan was one of the few stocks on the Irish market to finish in positive territory, adding more than 10 cent to reach €6.30, albeit on light enough volume. Brokers said that the construction name was supported by a trading update issued yesterday by its UK peer SIG. The update was ahead of expectations and according to one Dublin broker, underpinned Kingspan’s “robust” management statement in May.

Elsewhere, budget airline Ryanair bounced more than 1.5 per cent, or 6 cent, to €3.86.

Irish financials were quite weak following analysis from a Deutsche Bank analyst suggesting that AIB and Bank of Ireland are unlikely to pass an EU stress test.

Bank of Ireland was the best of a bad lot, adding 1.7 cent to 73 cent. AIB retreated 2.4 per cent, or 2.3 cent, to about 93 cent, while Irish Life & Permanent saw one cent chipped off its share price, leaving it at €1.57.

Food stocks saw reasonable volume, but most names in the sector finished in the red. Glanbia led the fall, tumbling more than 4 per cent to €3.06. Kerry shed 1.4 per cent, or 34 cent, to finish at €23.41, while Zurich-headquartered bakery group Aryzta closed down 11 cent at € 32.55.