THE unlamented departure (at least for those involved in financial markets) of Red Oskar might have driven the Frankfurt market into a state of euphoria, but the failure of the New York market to push the Dow through the 10,000 mark meant that most other markets lost ground. Dublin was no exception and the ISEQ closed down 0.4 per cent in thin trading.
The only trading of any size was in Bank of Ireland which recovered from a fall to €18.35 (£14.45) before closing down 15 cents on €18.55 (£14.61). AIB was 10 cents easier on €15.20 (£11.97) while Anglo Irish drifted 3 cents to €2.70 (£2.13).
Among the industrials, sector heavyweight CRH edged ahead another 3 cents to €17.18 (£13.53) but losers on the day included DCC - down 20 cents to €7.60 (£5.99), Greencore - down 15 cents to €3.75 (£2.95) and Heiton - down 4 cents to €2.38 (£1.87). Scottish Provident is a recent seller of Heiton, unloading 400,000 shares last Monday to take its stake down to 2.1 million shares or 4.53 per cent.
Independent - which is bidding to buy out the minority shareholders in its South African business at a cost of £47 million was 15 cents firmer on €4.00 (£3.15) - boosted by a "buy" rating from Merrill Lynch. Merrill analysts believe that the share has an upside of 25 per cent.
Kerry continued to improve after its bumper results and was 10 cents higher on €12.60 (£9.92). Tullow, however, remains out of favour and lost 5 cents to €0.65 (51p).
