The ISEQ struggled along with its European peers yesterday, as investors around the continent fretted about trends in corporate profitability.One stock that ignored such concerns was Iona Technologies, which added 27 per cent to close at €7.54 in Dublin and went on to power ahead in the US.

Dealers were mystified on the driver behind the increase, with rumours ranging from takeover to new business wins.

Elsewhere, Irish Life and Permanent had a good day after posting results in line with expectations. Shares rose by two cents to €13.35 on good volume.

AIB closed 20 cents weaker at €12.10 after going ex-dividend by 35 cents, and so it was effectively up on the day.

Bank of Ireland fell by one cent to €10.62 as more than four million shares changed hands.

Anglo Irish added 10 cents to finish at €13.95, as it continues to shrug off its post-placing hangover.

Insurance firm, FBD, rose by 40 cents to €14.90 after posting a healthy 2003 performance.

Also reporting yesterday was Glanbia, which closed 11 cents lower at €2.44 after performing strongly earlier in the week. The company's results were ahead of the previous year before exceptionals. Greencore recorded heavy volume as it rose one cent to €3.33.

Fyffes dropped by seven cents to €1.58, despite attracting analyst upgrades in the wake of Tuesday's full-year results.

Kerry Group shed 45 cents to close at €15.40.

Ryanair fell by seven cents to €4.83, after issuing February passenger numbers showing a decline in load factor.

CRH gave up some of its recent strength by slipping 27 cents to €17.15.

Housebuilder, McInerney, fell seven cents to €5.08 after going ex-dividend by six cents. UK peer, Westbury, has told the market to expect a strong 2004.

Also moving ex-dividend was Paddy Power, which finished unchanged at €8.45 after going ex-div by 8.59 cents.