Market eases back in languid global trading

With Wall Street celebrating George Washington's birthday, international stock markets drifted lower in languid trading, and …

With Wall Street celebrating George Washington's birthday, international stock markets drifted lower in languid trading, and stock prices in Dublin eased in line with the international trend. The best that can be hoped is that the flow of corporate results in the weeks ahead - starting on Wednesday with AIB and Golden Vale - will give some impetus. Ahead of those results, AIB was 27 cents lower on €15.93 (£12.54).

Other financials were mixed with Bank of Ireland up 15 cents on €18.75 (£14.76), Irish Life down 10 cents on €9.00 (£7.08) and Irish Permanent down 25 cents on €14.20 (£11.18).

Elsewhere Golden Vale was unchanged on €1.04 (£0.82) ahead of results tomorrow, CRH was 13 cents lower on €16.25 (£12.79) following news - first reported in this newspaper three weeks ago - that it is contemplating bidding for some of the assets being divested by Scancem. Smurfit was 2 cents lower on €1.70 (£1.34) with little reaction in the market to the exit of the Stone's from Smurfit Stone.

Fishers was unchanged from €0.45 (£0.35) as Henderson Investors disclosed that it bought 700,000 Fishers shares at 38p sterling last week to take its stake to 5.2 million shares - or 3.83 per cent of the total.

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Independent edged ahead 10 cents to €3.35 (£2.63) - the group has indicated that the scrip alternative to the second interim dividend of 7.61843 cents per share will be based on a price of €3.34 (£2.63).