Market Report: Travel and tourism stocks stood out yesterday as the ISEQ gave up half a per cent, taking its cue from international stock markets which remained weak amid growing fears of higher US interest rates.

Settlement Day: April 26th

In Dublin, Ryanair lost 17 cents, or nearly 3.5 per cent, to €4.76 following a warning from chief executive Michael O'Leary that average fares could fall by as much as 20 per cent this year.

"The yield guidance is weighing on the share price," one dealer said.

Jurys Doyle also gave up five cents to €10.35 following its annual meeting.

In a trading update, the group said it had yet to experience a significant improvement in its four and five-star hotels in Ireland which were still hampering performance.

By contrast, Gresham shares added five cents to €1.20 as investors awaited further news on the future of the group.

Elsewhere, Kerry continued its upward march, benefiting from its status as a solid defensive stock, dealers said.

Its shares closed a further 18 cents, or 1.1 per cent, higher at €16.43.

Also in the food sector, Donegal Creameries reported a 2 per cent increase in pre-tax profits, despite ongoing difficulties in its mushroom business last year.

The results were broadly in line with expectations and the shares remained unchanged at €4.00.

Eircom shares shed just one cent to €1.48 despite the announcement that a 7 per cent stake in the company had reverted to the selling shareholders who are barred from selling for a further 180 days.

In the financial sector, Anglo Irish Bank managed to end the day unchanged at €13.30 despite a weak performance from the leading banks.

Allied Irish Bank closed nine cents lower at €12.39, Bank of Ireland lost 10 cents to €10.40 while Irish Life & Permanent was down five cents at €13.70 by the close.