TRADING was thin in Dublin yesterday, with most analysts predicting little change until after the US Federal Reserve's Open Markets Committee decides on Tuesday whether or not to rise interest rates. Traders said the market was particularly slow in the morning, speeding up slightly towards the end of the day.
Financial stocks saw the most interest, with AIB continuing its [recovery to close at 422p, up 5p on Thursday. In the end, Bank of Ireland managed only a rise of half a penny to finish at 613p. Anglo Irish Bank fell half a penny to 76p.
Irish Life rose by 3p to end on 315p, while Irish Permanent rose initially only to fall back to its opening mark of 600p.
Independent Newspapers climbed 5p to 330p. The paper and packaging giant Smurfit also rose climbing 2p to end on 165p.
In the food sector, Avonmore was unchanged at 229p, while Kerry group gained 5p to close on 640p. Despite the company's profits warning on Tuesday and potentially worrying newspaper reports that it might have to renegotiate some of its borrowings, Waterford Foods remained steady at 75p. Analysts said traders had already built any bad news into the share price.
In one transaction, the investment company Woodchester, whose parent company, Credit Lyonnais, has put its 53 per cent stake up for sale, saw its price rise eight pence to 280p. Elsewhere, CRH fell by the same amount to 615p. Ahead of its end of year results for 1996, due on Monday, Waterford Wedgwood dropped 1 1/2p to close at 84p.
