Some conflicting economic figures from the US in the form of better-than-expected consumer confidence and weaker producer prices meant that markets were little changed. On the home market, there was little change in most of the leaders.

Despite FDA approval for its Frova migraine treatment, Elan was weaker, partly due to a downgrade from Prudential - which cut its price target for the stock from $60 to $53. Prudential suggests that Elan may suffer from generic versions of its Skelaxin muscle treatment. On the New York Stock Exchange, Elan shares were down 57 cents to $43.83 by midday.

The main highlight among the technology shares was the disclosure late in the day that Goldman Sachs had offloaded a 7.4 per cent chunk of Parthus at 401/2p per share, a 61/2p discount on the price in the market. There are two ways to look at this sale. It's not a vote of confidence that long-time investor Goldman Sachs sold such a large chunk of the company, but it is a good sign that new and institutional shareholders took up the stock and broadened the shareholder base.

Iona Technologies was marginally lower on Nasdaq following its 20 per cent gain on Thursday - after the company went on the road promoting its highly regarded Orbix €2A product.

On the home market, the collapse of David McKenna's proposed MBO at Marlborough didn't raise a flicker of interest, although institutional shareholders such as Quinn Direct, Gartmore and Merrill Lynch will definitely have an interest on what the next plan is for the recruitment group.