Despite the weakness on overseas markets triggered by sharp falls in Deutsche Telekom and Unisys, the Irish market managed to trade 1 per cent higher although trading volumes remained low.
There was some chunky trading, however, in Fyffes which fell another four cents to €1.09 and is now trading at almost a quarter of its level of only a few short months ago. There is absolutely no support in the market for the share with stock on offer at the closing level after almost 3 million shares traded yesterday.
Eircom struggled to make a five cent gain to €2.75 as the market waits for light to be shed on the KPN/Telia situation. Whatever emerges there, dealers see little upside for Eircom in the short-term. AIB stopped the rot with a 15 cent gain to €9.45, although Bank of Ireland lost nine cents to €6.61 on turnover of more than three million shares.
CRH continued to improve with a 20 cent gain to €18.90 although Greencore lost seven cents to €2.75 despite the news that Dermot Desmond has recently bought more than five million shares to take his stake to almost 13.9 per cent. Mr Desmond's intentions remain unclear.
IWP was 10 cents firmer on €1.55 after buying in another 473,000 shares, adding to the 500,000 share buyback on Wednesday and Joe Moran's purchase of 250,000 shares also on Wednesday. Kerry gained 35 cents to €13.85.
Technology shares were mixed with Baltimore falling 24p in London to £4.74 sterling (€7.56), while Trintech fell 90 cents on the Neuer Markt to €19.70. Today sees Conduit's debut on the Neuer Markt and a big premium on the €16 IPO price is expected.
