Settlement Date: November 1st: A weak performance from the leading shares, particularly CRH, led the Irish market to close nearly 1.6 per cent lower yesterday.
Sentiment wasn't improved by a poor performance from overseas markets with share prices in London, Paris and Frankfurt all depressed. However, dealers described trading in Dublin as "sketchy", with volumes generally light as the market again outperformed on the way down.
In Dublin, CRH lost 65 cents, or 5 per cent, to €12.10 as asbestos worries lingered and sectoral weakness persisted.
Ryanair was also out of favour, shedding 20 cents to €6.20.
The two main banks also gave up ground, with AIB closing 18 cents lower at €13.52, while Bank of Ireland shed 20 cents to €11.10 and Irish Life & Permanent lost 33 cents to €11.40.
However, Anglo Irish Bank bucked the weaker trend to gain 18 cents to €6.55. Merrion Stockbrokers has recommended the stock as a "buy" at a price of €6.26 and upgraded its earnings forecasts for the company on foot of the adoption of the new accounting standard on deferred tax.
Nearly 2.5 million Dunloe Ewart shares were traded but the share price remained unchanged at €0.43 as the market waited to see if a counter offer for the company would be forthcoming.
Elsewhere, Abbey National shares added five cents to €4.55 while Independent News & Media remained weak, ending five cents lower at €1.40.
Elan was up four cents to €1.51 ahead of the release of third-quarter results today, although analysts are not expecting any surprises.
Galen performed less well, losing five cents to €6.10.
