The Dublin market was forced lower, in line with weak international markets, ending another bad week for investors. The ISEQ ended almost one percentage point down, with dealers remaining gloomy about prospects in the near term.

Bank of Ireland was one of the few Irish companies to buck the trend yesterday making gains in the thoroughly depressed market. It closed seven cents better at €10.22.

Most stocks lost value as fresh profit warnings, concerns about an imminent war in the Gulf and weak economic conditions in Europe and the US, triggered some selling.

Ryanair, which had impressed the markets earlier this week with its surging passenger numbers, turned weaker as some shareholders sought to take profits. The shares closed 23 cents down at €5.60.

Among the financials, AIB shed 23 cents to end the week at €12.20, Anglo Irish Bank was seven cents weaker at €6.05 while Irish Life & Permanent lost 24 cents to end at €11.40.

CRH was weaker once again, closing at €11.22, Elan lost a further 10 cents to €1.50, while Jurys Doyle Hotels was down 10 cents at €7.45.

Independent News & Media dropped five cents to €1.40 and Irish Continental Group was 10 cents weaker at €7.45.

Those in positive territory included Alphyra, up 10 cents to €1.60, and DCC, which added 10 cents to €9.30. Galen ended the week up nine cents at €6.16 while Heitons added 10 cents to €2.15.United Drug was also stronger at €12.60, up 20 cents on the day.

The markets will be watching for third-quarter earnings figures from the US in the weeks ahead to gauge whether there will be any respite for investors.