Absence of overseas inspiration as market settles for quiet day

IT was a quiet day, with some of the larger stocks just coming off their top prices but finishing broadly in line with Tuesday's closing levels.

There was no inspiration from New York or London and most of the action took place in the morning, with very little movement in the afternoon.

Building materials group CRH rose 4 1/2p to 612 1/2p as dealers said investors continued to respond positively to the company's acquisitions and to recent optimistic forecasts for the strongly performing construction sector.

Kingspan increased by 15p to 380p and Grafton rose by 2 1/2p to 615p. Smuifit dropped 2p to 165p.

Of the major banks, Bank of Ireland gained 2p to end at 455 1/2p, while Allied Irish Banks dipped during trading by 2p but closed at its opening price of 355p.

Irish Life ended the day down 5p at 240p, while Irish Permanent dropped 2p to 398p.

Lyons gained 20p to 340p as dealers said speculation continued that Unilever might come back with a higher offer to buy out shareholders.

Jurys share price rose by 15p to 265p in what dealers said was both a positive response to Bord Failte tourism figures and returning confidence following fears raised during the July 12th celebrations in northern Ireland.

In the agricultural stocks, Kerry dropped 5p to 590p and Golden Vale fell 1/2p to 62 1/2p.

Other movers were Independent, 1p lower at 292p and Unidare down 10p to 190p. Wnterford Wedgewood was up 1 3/4p to 75p and Oglesby & Butler dropped 6p to 25p. Woodchester was 2p down at 182p.

The property company Dunloe dipped 1/4p to 18 3/4p and Green gained 3 3/4p to close at 232 1/2p.

Greencore dipped 3p to 307p.

AIB notified the exchange that it has an interest in excess of 10 per cent of the share capital of Fyffes.

Government bonds were marginally up in thin late trade as the market continued to look to the US for direction, traders said.