Market Report - Dublin

The Irish equity market ended the day broadly unchanged as it took its cue from overseas markets where volume was dampened by…

The Irish equity market ended the day broadly unchanged as it took its cue from overseas markets where volume was dampened by the holiday mood on Wall Street.

The ISEQ index of Irish shares closed 4.13 points or 0.11 per cent higher at 3,761.52 although late futures-related weakness in London dragged some of the leading stocks down.

Bank of Ireland, a star performer in recent weeks, bucked the trend, however, and closed 5p firmer at an all-time high of 912p.

AIB and Irish Permanent both finished unchanged at 590p and 656p respectively but Irish Life shed 3p to 345p.

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Dealers said the stock has been held back of late by uncertainty about the AGF stake and whether the French insurer will move to sell more of its 14 million shares. AGF sold a bloc of 3.5 million shares at 342.5p earlier this month.

In the industrial sector, CRH slipped 2p to 790p while Smurfit closed 3p lower at 195p. Greencore, which reports results next Thursday, also lost 3p to 305p.

But activity in second-line stocks was subdued. Dealers said Independent Newspapers was supported by some recent positive broker comment and gained 10p to 395p while Waterford Wedgwood also moved ahead, gaining 3p to 82p.

Lyons was unchanged at 330p after Unilever moved to buy out the minority shareholders in the group by offering a special dividend of 60p on top of the original offer of 323p.