Just as the Irish Stock Exchange seemed immune to Thursday's heavy losses on international markets, it was also immune to yesterday's recovery. In a mixed day characterised by low volumes, the ISEQ index lost just under 1 per cent of its value.
Again, there was sizeable trading in property group Dunloe Ewart, with Liam Carroll understood to have been in the market once more, adding to his 19.6 per cent stake. A further 3.3 million Dunloe shares traded yesterday, just under 1 per cent of the total equity, and Mr Carroll is thought to have picked up most of those. Dunloe was unchanged on 50 cents.
Elsewhere, trading was mixed. Among the financials, AIB was up 8 cents to €11.88, Bank of Ireland dropped 6 cents to €8.12 and Irish [ RO] Life & Permanent was 12 cents lower on €11.58. Eircom lost 5 cents to €2.75 in turnover of 1.8 million shares while Glanbia hit a new all-time low, losing 5 cents to 46 cents, one tenth of its €4.53 high in 1998.
IFG lost 5 cents to €1.55, only 26 per cent of shareholders having opted to take up the recent open offer at €1.65. The balance of the 3.6 million shares was placed in the market by NCB.
Ryanair was hit by some chunky profit-taking and fell 33 cents to €8.84 in turnover of more than 1.25 million shares.
Most Irish technology shares rebounded from recent lows. By midday on Nasdaq, Parthus and Iona were both up more than 9 per cent while Baltimore and Smartforce were both 3 per cent firmer. The exception was Trintech, which was trading close to its low on the Neuer Markt on €16.65 and was down 3 per cent by midday on Nasdaq.
