Gilt prices regained some of the ground lost in the immediate aftermath of the US non farm payroll figures but still closed sharply lower especially at the long end of the market where prices fell 50p to send long gilt yields back above 7 per cent.
The muted response on Wall Street to the US figures meant there was little reaction on the Irish stock market, although the ISEQ came back from a new record above 2,800 to close up a couple of points on the day.
Dealers said the market was quiet with little activity in the main banking stocks. Bank of Ireland, however, consolidated its position at an unchanged 565p having hit a new high of 570p in earlier trading while AIB drifted 1p lower to 399p. CRH lost 3p to 625p while Smurfit eased 1/2p to 180p.
Woodchester continued to rise strongly and closed up 5p on 229p with renewed speculation that the Credit Lyonnais controlling stake will be sold within the next few months. Avonmore saw some strong demand in after hours trading and closed up 8p on 185p while Adare jumped 10p to another new high of 585p.
Fitzwilton dropped 2 1/2p to 48p for no immediately apparent reason, Anglo Irish Bank was 1p firmer on 75p while Jurys remained firmly bid at its new high of 292p. Silvermines gained 4p to 80p in its first trade for almost a month while James Crean recovered from an early fall to 175p to close down just 2p, on the day on 183p.
