SHARE prices drifted in thin turnover on the Dublin market with the market taking no obvious encouragement from the better performance in London and on the main European stock markets.

Gilt prices firmed slightly in thin turnover with the market taking a breather ahead of a speech by the Bundesbank president, Mr Hans Tietmeyer.

On the equity market Smurfit failed to benefit from a strong overnight performance by the US paper sector and particularly by two of the main linerboard stocks.

JS Corp was marginally firmer but Smurfit fell 2p on the Dublin, market to 163p.

Some positive comment on the British building materials sector failed to stimulate CRH which was 1p easier on 636p White among the financials, both major banks were lower with AIB down 2p on 396p and Bank of Ireland also 2p lower on 510p. Bank of Ireland reports interim results tomorrow and the market in the shares is likely to be at a standstill until the results are published.

Results ahead of market forecasts and suggestions from some brokers that full-year results forecasts will be upgraded did not benefit DCC whose shares were 2p lower but well-bid on 255p.

Gilt prices were firmer in thin trading, with the strongest gains at the longer end of the yield curve. (Long gilts closed 25p higher to produce a yield of 7.02 per cent while the 2006 gilt - one of the main trading stocks - was 17p higher on a yield of 6.73 per cent. The five-year gilt closed on a yield of 6.08 per cent.