Settlement Date: April 2nd: The market lost 1 per cent of its value yesterday as fears of a drawn-out war in Iraq continued to weigh on equity markets around the globe.

However, dealers said trading was very light with many investors reluctant to take positions ahead of the weekend.

"It's all very light and thin and scrappy and messy," said one dealer.

The food sector provided two of the biggest deals of the day with large trades in Greencore and IAWS.

A block of 1.8 million Greencore shares was traded at €2.60 although the shares went on to close two cents lower on the day at 2.50.

IAWS finished 10 cents lower at 7.30 after three million shares were traded at 7.20 earlier in the day.

Otherwise, activity was again confined to the larger stocks. Banking shares remained weak with AIB off 25 cents to €12.73, Bank of Ireland also down 25 cents to €9.75 and Irish Life & Permanent five cents weaker at 9.75. But Anglo Irish Bank outperformed the sector, gaining 10 cents to €6.70.

The leading industrial stocks did not escape the weaker trend. CRH shed 15 cents to 13.48 and Ryanair lost 17 cents to 6.45.

Other losers on the day included DCC, down 15 cents to 9.75, and United Drug, which also lost 15 cents to 12.65.

Among the gainers were Kerry, up 20 cents to €12.30, and Galen, which added 25 cents to 6.10.

Shares in Sherry FitzGerald, the subject of a proposed management buyout at a price of 1.95 per share, added a further seven cents to 1.77.

Readymix, which has received a preliminary approach from Kilsaran Concrete, gained 18 cents to 1.68.