Shares were weaker again in Dublin with losses at Eircom and Elan dragging the ISEQ index lower yesterday.

Eircom was struggling throughout the day and closed three cents lower at €2.78 with dealers holding out little prospect of any short-term improvement. Elan also suffered losses mainly on the back of profit-taking as investors took advantage of the latest good run in the stock. Elan lost 75 cents to close at €53.75.

While trading was relatively thin there were some volumes dealt in Bank of Ireland. The bank's shares closed unchanged at €6.70 and AIB was weaker, shedding nine cents to end at €9.16. Other financial stocks enjoyed mixed fortunes with Anglo Irish Bank up two cents at €2.38, First Active down five cents at €1.75 and Irish Life & Permanent down 14 cents at €8.20. Among the leading industrials, CRH was weaker at €18.77, down three cents in line with a weaker tone across the building materials sector internationally. Smurfit was firmer though with the shares holding up at €1.97. Second-quarter figures from Smurfit Stone Container Corporation this week had been slightly below analyst expectations but indications of a more positive outlook going forward have been well received and are seen as providing some support for the shares.

Adare made most progress on the day, gaining 64 cents to €11.14. The Jurys Doyle hotel group was also higher, continuing its recent good run with the shares adding 30 cents yesterday to €8.

The performance of the food stocks was also mixed. Fyffes put on six cents to €1.06, Glanbia gained three cents to 71 cents, Golden Vale was up one cent at €1.10 and IAWS added 10 cents to €7.40.