The stock market tracked international markets lower yesterday but volumes again were light as the holiday season dampened trade. Dealers noted that very quiet trading in the morning gave way to a slight pick-up in the afternoon.

Galen was one of the more high-profile movers on the day, dropping by 1.64, or 16 per cent, to 8.45 as it gave up its recent gains following the annoucnement that takeover talks with Barr Laboratories were terminated. In London, the shares were down 15.6 per cent at 595p. However, dealers held out hopes that another bidder might enter the picture, lending some support to the stock.

Fyffes again proved to be one of the busier stocks, with more than 1.8 million shares traded, as acquisition speculation continued despite the company's refusal to comment. The shares ended four cents higher at 1.61.

Icon shares were unchanged at 29 despite the release of better-than-expected fourth-quarter results by the clinical trials group.

Among the leading stocks, the banks had a relatively quiet day with AIB losing seven cents to 12.58, Bank of Ireland off eight cents to 10.35 and Anglo Irish Bank down four cents at €8.06.

However, Irish Life & Permanent bucked the weaker trend, adding 10 cents to 9.75 though First Active was down three cents to 4.64 ahead of the release of interim results later today.

CRH outperformed on the day, gaining 15 cents to €15.95.

United Drug's seven for one share split became effective yesterday, resulting in the drop of 12.10 in the shares to 2.10.

More than a million Barlo shares traded with the share price holding steady at 0.35.