Microsoft warning takes shine off local market

The market closed 1.39 per cent weaker at 6,338

The market closed 1.39 per cent weaker at 6,338.03 in line with international markets which suffered from Microsoft's warning of slow revenue growth amid sluggish demand for personal computers. In a relatively quiet day's trading, the star performers on the day were Jurys Doyle and Kerry Group. Still benefiting from its recent good results, Jurys Doyle jumped 39 cents to #10.50 with more than 44,700 shares changing hands. Kerry Group picked up 29 cents to close the day at #14.49 with more than 200,000 shares traded.

Leading industrial CRH was still under pressure and continued its downward trend. It fell 16 cents to #19.72. Smurfit-Stone's better-than-expected result was reflected in buyers moving into the ordinary Smurfit stock. Despite just under five million shares changing hands, Smurfit's price remained unchanged at #2.38 on the close of business.

Financials enjoyed a mixed day. AIB was 11 cents stronger at #13.11 with just under 800,000 shares traded, while First Active picked up 2 cents to #3.05. Bank of Ireland dropped back 17 cents to #11.73 on a volume of nearly 2.8 million shares. Also trading down were Anglo Irish Bank, which slipped 3 cents to #4.55, and Irish Life & Permanent which closed at #13.57, down 13 cents.

As the ISEQ closed, Irish tech stocks on the Nasdaq were all trading down. Parthus was 5.56 per cent weaker at $7.65, while Trintech has dropped 1.44 per cent to $2.06. Baltimore was trading down 1.11 per cent at $0.89 and Smartforce was 2.93 per cent weaker at $33.50.