"A limp day" was how one broker described a pretty tedious session on the Dublin market where price changes were inconsequential, with only renewed weakness in some of the technology stocks interrupting the tedium. Brokers expect little improvement in either prices or volumes ahead of the Fed's meeting on interest rates next week.
Eircom managed a modest recovery and closed up 7 1/2 cents on €3.82 1/2 ahead of results later this month. But even bumper results are unlikely to have much impact on the shares as long as the KPN and Telia shares overhang the market. CRH was 5 cents firmer on €19.10 but Smurfit continued to drift and was 5 cents lower on €2.20.
Among the financials, AIB was 13 cents weaker on €10.87, Anglo Irish was 5 cents firmer on €2.66, while Bank of Ireland gained 18 cents on €7.90. Ardagh was unchanged on €1.60 as the company confirmed its buyback of just under 2.5 million shares at a minimum price of €1.61, Glanbia added 5 cents to 70 cents, while Viridian edged ahead in London to close on stg£7.05.
Viridian has diclosed that Fidelity has recently bought 1.6 million shares - most apparently from Standard Life. Fidelity's stake has now risen to 5.4 million shares or 4.08 per cent, while Standard Life's stake has fallen to 4.4 million shares or 3.37 per cent.
Among technology stocks, Trintech was boosted by a "buy" rating from Chase H&Q and was trading over $1 1/2 higher by midday on $24. Baltimore, however, was down over $5 by midday at $110.50.
