The Irish market closed virtually unchanged just above the 5,300 mark on the ISEQ, with weakness in some of the financials being countered by a strong performance by some leading industrials, in particular CRH.
Bank of Ireland continued to weaken from what is seen to have been an overbought position ahead of its results on Thursday. The shares fell as much as 50p in yesterday's trading before closing down 30p on £14.20.
The other banks were not hit badly by the weakness in British sector after the OFT ruling in the Northern Rock case. Though AIB was down more than 5p on 964p, Irish Permanent was 5p firmer on 935p.
CRH put in a strong performance with good overseas demand for the stock driving the shares ahead 25p to £10.70, although Smurfit seems to have slipped back to a narrow trading band and closed 1p easier on 260p.
Boosted by a Davy recommendation, DCC was up 13 1/2p to 710p with the broker suggesting that the stock warrants a market rating that would put it at 780p
James Crean, however, was 4p weaker on 150p while Fitzwilton - likely to soon depart the market as a result of the O'Reilly/ Goulandris buyout - was 1/2p easier on 47p.
