WEAKER international markets failed to prevent the Irish market nudging ahead to a new high, but turnover was well down on recent days, with investors wary ahead of the British budget tomorrow and today's meeting of the Fed's policy making committee.
Most of the trading was in the financials.First Maryland subsidiary raised another 5200 million on the debt markets ahead of the close of the Dauphin takeover. It should become clear early next week exactly how many new shares AIB will be issuing to part-fund the acquisition.
Elsewhere, Bank of Ireland was 5p easier on 725p, CRH was 2p firmer on 692p, while Smurfit was unchanged on 192p. Most of the 10-point rise in the ISEQ came from further gains on Walt Street by Elan where the share closed up
James Crean clawed its way back 5 1/2p to 198p, but remains under severe downward pressure.
Elsewhere, Greencore eased 4p to 325p, Independent was 5p higher on 390p, Kerry regained 10p to 640p, while Ryanair came off its best levels and fell 2p to 352p.
Bond markets slipped back in thin trading, with continuing vague speculation that a revalualion of the pound may be somewhere on the new Government's agenda
After yesterday's rise against the deutschmark, the pound is once again almost 10 per cent above the weakest ERM currency, the French franc, the pound's highest level within the system for some weeks.
