Markets Report - Dublin

A downturn in the FTSE 100 index impinged on Dublin's major stocks, driving down financial institutions and other companies quoted…

A downturn in the FTSE 100 index impinged on Dublin's major stocks, driving down financial institutions and other companies quoted in London in what was otherwise a quiet day.

AIB lost 11p, going to 593p, while Bank of Ireland also slipped, going down by 20p to 802p. Anglo Irish Bank was also hit when its sterling quoted price of 89p went down a penny. Irish Life and Norwich Union also saw slippages down 3p and 5p to 339p and 370p respectively.

Ryanair, down 15p to 345p, and Greencore, down 5p to 330p to were also notable. One broker said the Greencore slide was due to worries about crop failure in the wake of last weekend's storm.

He added that, although In- dependent had gained 5p to 460p, there were fears that its subsidiaries would be affected by expected negative figures on the Australian and New Zealand economies.

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Gains were made by Irish Permanent, which closed at 665p, up 5p on the day. CRH also fell, going down 16p to 737p, amid negative sector sentiment.

Smurfit was relatively unchanged, down 2 1/4p to 230p. A dealer said it was well supported after a recent buy recommendation by Paine Webber.

Among the foods groups, Kerry went down 5p to 695p.

In bonds, one dealer added that he expected Tuesday's bond auction by the National Treasury Management Agency in the 8.25 per cent Treasury bond, due in 2015, to receive a positive response.