SHARE prices drifted slightly lower from the previous day's all-time highs, with the stimulus of a record high in London being balanced out by opening weakness on Wall Street. The direction of the market will be dictated by events overseas, but overall the tone is positive.

Price changes were inconsequential. Smurfit - after heavy trading on Wednesday with over five million shares dealt - was 2p lower on 165p, while CRH was 3p easier on 607p.

Financials were generally firm, with AIB up 1p on 367p, Bank of Ireland unchanged on 480p and Irish Permanent hitting another high with a 4p gain to 436p. Irish Life's half-year figures were in line with forecasts and the share was 1p stronger on 241p, after hitting 245p in earlier trading.

Outside the leaders, Independent remained firmly bid but closed unchanged on 315p after peaking at 319p. Adare jumped 8p to 495p and seems to be gradually gaining ground after the losses that followed the ending of the Microsofi print contract. Golden Vale was 1p easier on 60p and is likely to trade in a narrow range after the poor half-year results. Greencore came back from its all-time high and closed down 3p on 332p. Kerry was 10p firmer on 620p.

Among the smaller fry, Jones dropped 29p to 151p after one investor lost patience and hit the best bid available in the market. At 151p, however, there is some bid interest for Jones from those who believe that the share can hardly fall further. Oglesby & Butler added 3p to 33p.

Gilts were mixed but were generally unchanged on the previous day's close. Most eyes will be on next week's Federal Reserve Open Market Committee meeting with some speculation that a rate rise may be back on the agenda.