Even benign producer price figures from the US failed to lift international stock markets and the Irish market closed lower, with most of the losses down to a sharp fall by Eircom. Turnover was very thin with Eircom and Waterford Wedgwood the only stocks to trade more than one million shares.

Eircom closed down 17 cents on €3.00 and seems certain to languish for a considerable time with Telia's stake now apparently not going to be sold for six months. The only short-term comfort for Eircom shareholders is the one-for-25 bonus issue next month. Otherwise shares were modestly firmer with CRH the pick of the bunch with a 40 cent gain to €19.30, although Ryanair dropped 60 cents to €8.20, albeit in tiny volume. Independent was five cents higher on €8.35 ahead of a share split on Monday.

Financials were generally firmer, with AIB - first to hike interest rates in the latest round - up 15 cents to €10.92, while Bank of Ireland was 7.25 cents higher on €7.33.

Otherwise, trading was mixed with Ryan regaining Thursday's losses to close up 12 cents on €1.20 while Greencore's dreadful run continued with the share closing 13 cents lower on €2.60. Food stocks were marginally firmer with Glanbia up five cents on €0.75, while Golden Vale was three cents higher on €1.06.

Technology shares were generally lower with profit-taking knocking Parthus back 7 1/2p in London to £2.11 1/2 sterling while Baltimore dealt down 23p to £5.72 sterling.