The two-tier market, which has seen phenomenal demand for telecom and technology stocks but a complete erosion of interest in banking and industrial shares, continued to be the pattern in Dublin.
Eircom, after the heavy profit-taking of Wednesday, rebounded to €4.56, up 16 cents, and seems set for volatile trading, with people who borrowed to buy the shares now seen as natural sellers. Trading between €4.40 and €4.70 is the likely range for Eircom, with buyers in at the lower level and sellers at anywhere near the upper level of that trading range.
Other technology shares remained in strong demand, with Horizon up to another new high of €11, a gain of 25 cents, while telecoms junior ITG is currently unstoppable and gained €1.45 to €16.20, albeit in light trading.
The two quasi-dot.com stocks, Independent and Fyffes, were also firmly bid, with Independent up 15 cents to €10.25, while Fyffes hit a trading high of €3.90 before closing 17 cents firmer on €3.85.
Neuer Markt trading saw Trintech move €3.80 higher to €106.30 and this was followed by further gains on Nasdaq. Baltimore continued its extraordinary run - with some speculation of an acquisition in the offing - and rose £5.25 in London to £92 sterling and was trading just under $150 on Nasdaq.
"Traditional" shares were dismal, with CRH - going through an uncharacteristically friendless phase - down 35 cents to €17.65, while Smurfit lost 111/2 cents to €2.65. Financials were mixed, with Bank of Ireland up 23 cents to €6.87, regaining some ground, while Anglo Irish gained 15 cents to €2.33. However, AIB fell further - down 81/2 cents on €8.72 - and Irish Life was down 15 cents to €7.95.
