Dublin Report: The market slipped by three-quarters of a percentage point yesterday, with business very limited as investors remained cautious in the wake of Thursday's events in London.
News was also thin on the ground, with Readymix providing one of the few exceptions by issuing first-half numbers. The results, which were stronger than expected, pushed shares up by two cent to €2.41. Independent News & Media also provided some excitement, having been linked with a possible Indian radio purchase. Shares finished one cent weaker at €2.29.
Ryanair came under pressure as analysts wondered how new requirements for carrying hand luggage on to aircraft would affect its plans to cut costs by encouraging passengers to bring only hand luggage.
The airline closed at €7.24, down 20 cent, having touched a low of €7.22 in earlier trade.
Anglo Irish Bank was one of the few remaining stocks to attract any kind of decent volume, with two million shares changing hands. The bank ended the day 15 cent lower at €11.36.
The remaining financials failed to take off either, with AIB closing flat at €19.55 and Bank of Ireland slipping by eight cent to €14.15. Irish Life & Permanent was punished even more, losing 55 cent to finish at €18.90.
FBD held up well after paying a special dividend of €1.60, ending the session 20 cent stronger at €38.60.
CRH was another of the busier stocks, with momentum building towards results at the end of the month. Shares fell by 24 cent to €25.37.
C&C, which will issue a pre-close update on August 31st, fell by five cent to €8.58.
Goodbody has upgraded its forecasts for the stock on the back of research the broker has completed on the Scottish cider market. It has moved its price target up from €8 to €11.
Among the smaller names, Datalex was busier than usual, with 1.7 million shares, or about 2 per cent of the company, traded. Shares fell by one cent to 65 cent.
