The ISEQ posted modest gains today as investors looked to the safe haven of old economy stocks.
Financials were mostly stronger with the exception of AIB which lost 20 cents to euro 11.80. Earlier in the day, the bank announced a reshuffle of its senior management team ahead of the retirement of chief executive Mr Tom Mulcahy.
Eircom bounced 10 cents to euro 2.50 on speculation of a rival bid for its non-mobile assets. Food company Greencore gained 4 cents to euro 3.08 and DCC gained 20 cents to euro 11.70.
Smurfit added 3 cents to euro 2.00 and CRH is 14 cents higher at 20.45.
In London heavyweight telecoms issues Vodafone, Cable & Wireless and Marconi all recovered from their recent losses although technology issues remained sharply under pressure as Nasdaq appeared to extend last night's heavy falls.
Baltimore fell 16p to £2.66 on worries of a stock overhang as 3i's lock-up period ends at the end of March. The investment firm holds around 1.3 percent of the group's equity. Also weighing on the stock was UBS Warburg which moved back to a "buy" from "strong buy".