Irish share prices drifted lower in generally thin trading on the Dublin market and drew no inspiration from the generally firmer tone on international markets. Dealers said there was little apparent interest in trading although there may be a modest bounce today following yesterday's underperformance.
The only stock where turnover exceeded one million shares was Eircom which dealt up one cent to €2.78 as news on Eircell is awaited. Financials were generally weaker with AIB down 20 cents on €11.30 while Bank of Ireland dipped three cents to €8.39.
Irish Life - down five cents on €11.15 - disclosed that it bought back 616,000 shares on Friday at an average price of €11.28. First Active - up five cents on €2.12 - began its buyback programme with 107,741 shares bought back on Friday at prices between €2.07 and €2.09.
Potential takeover target Dunloe Ewart fell as low as 40 cents before closing two cents lower on 46 cents. Newcomer Datalex was five cents easier on €7.20 but was trading 56 cents higher on Nasdaq by lunchtime on $12.12. Confirmation of a planned share issue knocked 31p off Parthus in London with the share closing on 265p sterling. On Nasdaq, Parthus American Depository Shares were almost $4 lower by midday at $38.50.
Iona was 37 cents firmer in midday trading on $71.98 - the company has issued almost $37 million worth of stock to cover over 500,000 options exercised between April and October. The options are mostly connected with acquisitions.
