The Irish market was relatively quiet yesterday with the ISEQ index of shares tracking European markets lower. The markets are reflecting the uncertainty about possible terrorist attacks and a war in the Middle East, which has been keeping investors away.

The financial stocks got a bit of a boost in the afternoon with dealers reporting some buying interest in which Bank of Ireland benefited most. The bank gained three cents to end at €9.60. AIB failed to move ahead with the stock closing one cent weaker at €11.99. Anglo Irish Bank ended at €6.30, down five cents.

First Active was also down, shedding five cents to €5.50 while Irish Life & Permanent lost 23 cents to €9.90.

Worries about the impact of a war hit a number of stocks, mainly in the airline and leisure sectors. Ryanair lost 19 cents to end at €6.40. Jurys Doyle Hotels was also affected dropping 25 cents to €7.

Among other stocks, Arnotts gained 30 cents to end at €12.75. Grafton Group managed to make progress, with the stock trading up nine cents to €3.15, while United Drug added 10 cents to €13.30, following positive comments about current trading at its annual general meeting in Dublin yesterday.

Galen was 15 cents weaker at €5.80 following the downgrading of the stock by the investment bank UBS Walburg. The bank downgraded it from a buy to neutral. Analyst, Mr Paul Major, said the stock was approaching the target price of £4.29 and that it would await the approval of new pipeline products before re-examining its forecasts.

CRH was 12 cents lower ending at €11.63 and Independent News & Media closed four cents weaker at €1.38.

Settlement Date: February 17th