The Irish stock market enjoyed a quiet end to an eventful year as share prices slipped back slightly in very light trade on Tuesday to leave the ISEQ index 30 per cent below its year-ago levels.
Settlement Date: January 4th
Dealers said there was very little going on, with most investors still enjoying the Christmas holidays, and volumes were "insignificant". The ISEQ lost around 20 points to close at 3,995, down 30 per cent from the same time last year.
Bank of Ireland and Riverdeep were the only two stocks to trade in volumes of more than 100,000 shares. But while Bank of Ireland shares managed to close two cents higher at €9.75, Riverdeep gave up further ground, finishing 15 cents lower at €1.20 as investors continue to await the outcome of the management buyout approach. The company's share price is 63 per cent below the €3.25 level at which it was trading at the end of 2001.
Elsewhere, financial stocks remained weak with AIB losing 24 cents to €12.86, Irish Life & Permanent down 10 cents to €10.30 and Anglo Irish Bank off two cents at €6.78. But First Active, which faces an interesting year as its takeover protection expires, added three cents to €5.40.
A number of other stocks managed to edge higher, including Jurys Doyle, which gained 20 cents to €7.20 although just 1,600 shares changed hands. Independent News & Media added five cents to €1.55, Kerry Group was also up five cents to €12.75, as was Ryanair, which closed at €6.75.
Elan, which started the year as the market's largest company with a share price of more than €50, remained weak to the last, losing 12 cents on Tuesday to finish at just €2.05.
