Settlement Day: January 9th: Better-than-expected US employment figures, which offered signs of an economic rebound, had little impact overall on stock markets and, while there was a welcome increase in turnover in Dublin, price changes were negligible.
For the second successive day, Smurfit - one of the stocks that would benefit most from an American recovery through its Smurfit Stone Container Corp associate - was once again the focus of bid interest from a couple of overseas investors and edged ahead a cent to €2.51 in turnover of 3.8 million shares.
Financial shares also saw some bid interest without the shares doing very much. Anglo Irish - the best performing financial of 2001 - traded 2.8 million shares although it drifted a cent lower on €4.30. More than 2.25 million Bank of Ireland shares traded as they gained three cents to €10.75 while Irish Life & Permanent - which has had a good early run - fell back five cents to €11.86 in turnover of 2.4 million shares. First Active was nine cents higher on €3.35.
Among industrial stocks, CRH fell a cent to €19.40 although DCC hit a high of €12.38 before closing 25 cents higher on €12.25. Elan was unchanged in early New York Stock Exchange trading while Ryanair eased two cents to €6.83 despite a big jump by British Airways after a positive statement on November traffic figures.
Second-liners were mixed with Glanbia up three cents on €1.48 while Jurys jumped 28 cents to €8.50 ahead of interim results next week. Some technology stocks continued to advance after the sector's good early run. Riverdeep was up $0.90 in midday Nasdaq trading on $19.20 while Icon was also firmer ahead of results next week.