Market Report:News that Collins Stewart had swooped to acquire Tiarnan O'Mahoney's troubled financial services group ISTC came too late for the Dublin market yesterday.
And in the absence of any solid corporate news, stock on the Dublin exchange drifted in what was a noticeably quiet trading session.
The only decent volumes were in the market leaders and they all lost ground on the day.
Overall, the Iseq index shed 98 points, or 1.5 per cent, to hover at just above the 6,400 threshold.
The performance reflected a general global market malaise against a background of burgeoning fears about the health of credit markets.
However, the Irish Stock Exchange's performance was, as has become the habit, marginally more dramatic than that of its peers.
Among the winners, Providence Resources was one of the more significant movers, advancing over 7 per cent in reasonable volume. However, at a price of nine cent, any gain is magnified.
Of more substance were gains by building services group Siteserv, which added three cent to 48 cent, and listed recruitment group CPL, which ended the session on €4.15, an advance of 15 cent.
Aer Lingus was also among the handful of gainers despite the industrial relations unrest that is brewing at the airline. It ended the week on €2.33, up three cent of the day.
Clinical trials group Icon, which reported strong full-year figures on Thursday, was 50 cent firmer on €45.50.
The financials all finished weaker, despite AIB's announcement of a further investment in its central European expansion.
AIB closed eight cent weaker on €13.72, although there was little business in the stock.
Anglo Irish Bank was busier, but it still lost ground, closing on €8.702, down 14.7 cent.
Meanwhile, Bank of Ireland was also off, falling by 21.5 cent to €9.285.
Other companies to slip included Elan, 72.6 cent weaker on €15.784, C&C which gave up 17 cent to €4.42 and Independent News & Media, which closed on €1.955, down 5.1 cent.
