Shares slightly off after another lacklustre day

The two-hour collapse of the Xetra electronic trading system had little impact on the Dublin market as trading continues to be…

The two-hour collapse of the Xetra electronic trading system had little impact on the Dublin market as trading continues to be quiet. The value of Irish shares was marginally weaker at the close of trading following another lacklustre performance.

A weaker tone on Wall Street and worrying inflation figures for the Irish economy did little to help improve sentiment.

The two main banks turned weaker again, with AIB suffering the biggest loss. It ended at €9.50, down 40 cents, and Bank of Ireland dropped 10 cents to €7. Anglo Irish Bank shed four cents to €2.38, Irish Life & Permanent lost five cents, moving to €8.40, while First Active managed to buck the trend and put on two cents to close at €1.87.

Strong results from Iona were well received in the market but the shares turned weaker after enjoying a good run in recent weeks. The shares lost €2.60 to close at €85.9, with analysts upbeat about the company's future prospects.

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ITG drifted lower, shedding five cents to €10.70 and Riverdeep was unchanged at €3.40.

Eircom drifted even lower, moving back to €2.70, down three cents as the market awaits news on the intentions of Telia and whether it will announce the sale of its stake this week.

Those stocks making gains included CRH, up nine cents to €18.79, DCC, which added five cents, also to €10.20 and Elan, which notched up a further €1.50 to €55. Jurys Doyle Hotel Group continued to make further progress, moving 15 cents to €7.60.