ANALYSTS said the Dublin stock market "took a breather" yesterday, as the Central Bank interest rate increase dampened the week-long interest from overseas in Irish shares. There was "reasonable" trading volume.
Some losses run up in morning trading were recouped, dealers said, after the market was boosted by the release of employment data in the United States.
"The British election had no noticeable effect because it had been pretty well flagged," one analyst commented. "In fact, the market would have been astounded had the result come in the other way."
"We have seen demand right across the board, but particularly in the financials," one dealer said. "Smurfit has been quiet since the news that Eric Priestly, chief operating officer of Jefferson Smurfit Corporation, had resigned."
Smurfit finished at 167p the same price it had started the day.
Allied Irish Banks saw considerable interest and finished the day up 5p, at 489p, while Bank of Ireland finished where it began at 710p. Anglo Irish Bank gained 2p to close at 85p.
The strike-hit assurance company, Irish Life, climbed 5p to close on 340p, while Irish Permanent rose, only to fall back to where it began trading, on 620p.
CRH rose to a new high of 680p, up 7p from 673p, while Waterford Wcdgwood remained steady at 91p.
In the food sector, Avonmore slipped 3p to 232p, Kerry Group fell 5p to 640p, Golden Vale slid 2p down to 63p and Waterford Foods dropped a penny to close at 89p.
