Settlement Date: May 22nd: Dublin's performance mirrored foreign markets yesterday as worry that the United States was wavering on its strong dollar policy and fears about the spread of terror attacks saw the recent return of confidence to the market evaporate.
The ISEQ was down 2.27 per cent on a day when all exchanges notched up sizeable losses. Volume was light, however.
AIB fell 40 cents to €13.20 as the bank stepped back from its recent intense intervention in the market in pursuit of its own shares. Volume slowed to 2.85 million shares, well down on the 12 million-plus trading daily at the end of last week.
Bank of Ireland fared even worse, shedding 43 cents to €11.17. Traders said investors were being wary, given Bank of Ireland's announcement with last week's results that it would be buying back shares in the market.
Elsewhere in the financials, Anglo Irish Bank was 15 cents weaker on €7.23. Irish Life & Permanent was also off 15 cents, closing at €10.30 while First Active slipped back two cents to €4.43.
Among the industrials, CRH took a hit, sliding 35 cents on the back of poor US housing start figures released last Friday. Galen was another to turn sharply following a recent rally, finishing 45 cents weaker on €7.67. Fellow drug stock United Drug bucked the general trend, moving ahead 10 cents in thin trade ahead of interim figures today.
DCC also advanced yesterday following release of better-than-expected figures. The share was 10 cents stronger on €11.40 as brokers said they were likely to upgrade forecasts.
