Stock markets around the world put in another lacklustre performance and the early-January bull run is just a fading memory. Trading volumes have tailed off dramatically with even AIB - the focus of takeover talk in the British market - drifting lower as the market put little store in the rumours.

AIB had a topsy-turvy day, initially trading up to a high of €17.80 (£14.02) before weakening steadily to close down 19 cents on the day on €17.35 (£13.66). Bank of Ireland hit an early high of €20.20 (£15.91) before closing up 5p on the day on €20.10 (£15.83). Anglo Irish continued to benefit from its Smurfit Paribas acquisition and was up five cents on €2.60 (£2.05) although merger partners Irish Life and Irish Permanent continued to weaken with Irish Life five cents lower on €8.70 (£6.85) and Irish Permanent down 20 cents on €14.60 (£11.50).

Industrials were generally weaker, with Smurfit down four cents to €1.50 (£1.18) despite a positive response on Wall Street to Mr Roger Stone's upbeat comments at an analysts briefing on the Smurfit Stone fourth-quarter results.

CRH was unchanged on €13.90 (£10.95) although Kerry fell 30 cents to €11.60 (£9.14). Others to fall included Greencore - down 15 cents to €3.50 (£2.76) and First Active - down five cents on €4.45 (£3.50). Ryanair was one of the few stocks to move ahead and closed up 29 cents on €5.84 (£4.60).