Dublin report:It was another down day in the Irish market yesterday with a further 1 per cent drop in the Iseq index of Irish shares bringing to more than €3 billion the amount lost by the index this week.

Dealers expressed surprise at the extent of the decline given that several of the country's biggest companies released upbeat trading statements.

Building materials group CRH lost 2.6 per cent, or 91 cent, to close at €34.34 after releasing what was seen by analysts as a mixed trading update at its AGM.

The company said trading in the first four months of this year is ahead of the same period last year, but warned that severe weather and a fall in new house building would affect its American operations. The weak US dollar will also affect profits from the region.

Elsewhere drinks group C&C was also a loser, slipping 10 cent, to close at €12.40 despite announcing a near doubling of full-year profits. One dealer said there was a feeling that the outlook statement was going to be even more upbeat.

Shares in AIB fell too even though the bank released what one dealer described as an AGM statement that was "about as good as it could be".

The shares fell 1.4 per cent, or 31 cent, to end the day at €22.26.

The other banks followed suit, with heavy trading in Anglo ahead of its interim results today. As many as 5.9 million shares traded as the stock fell 1.1 per cent, or 18 cent, to €16.88.

Bank of Ireland also ended 1.2 per cent lower, at €15.99.

Homebuilder McInerney was one of the few gainers, adding 1.4 per cent, or 20 cent, to €14.40 after its AGM heard that demand for houses in Ireland remains steady.

United Drug dropped 1.2 per cent, or 5 cent, to €4.10 despite a rise in first-half profits.