Market Report: Activity in the Dublin market was subdued ahead of St Patrick's Day, with the holiday and the Irish exodus to Cheltenham being blamed for the quiet day.

In terms of corporate news, Horizon Technology delivered a 7 per cent rise in profits to €9.1 million from €8.5 million but warned that industry margins were contracting. Horizon shares traded lower on the results on foot of the warning. The shares shed 10 cent on the day to close at €1.13.

Greencore continued to feel the impact of its decision to close down its last remaining sugar processing plant. The shares fell by more than 3 per cent in Dublin to end at €3.60, down 12 cent.

The banks all came under pressure as investors took some profits following their recent good run.

AIB was off 1.4 per cent drifting 27 cent lower to €19.01. Bank of Ireland also attracted the sellers with the stock losing more than 1.5 per cent to end at €15, down 25 cent.

Anglo Irish Bank was also on the downward spiral, closing at €13.54, down 15 cent, off more than 1 per cent. Irish Life and Permanent suffered even more, with the shares down more than 2 per cent at €18, down 40 cent.

CRH though enjoyed a good day with the shares edging to a new all-time high during trading. The stock benefited from good figures from US peer Vulcan and its upbeat comments about the market. Bid speculation surrounding UK group Hanson was also positive.

At the end of the session, CRH, gained more than 2 per cent to €28.82, up 67 cent.

Eircom was relatively quiet now that Babcock & Brown has halted its buying spree. Eircom closed at €2.14, down two cent.

Paddy Power made gains, strengthened by positive comments from William Hill, which reported a profitable few days at Cheltenham. Paddy Power added 15 cent to end at €13.40.

United Drug was also in positive territory, gaining two cent to €3.80.