Business in Dublin was described yesterday as "somewhat subdued" with the market taking a breather after a bullish start to the year.

Shares were generally flat or slightly weaker in contrast to markets elsewhere in Europe and the United States which were slightly ahead on the day.

Waterford Wedgwood was again the dominant stock by volume, accounting for a third of all the business down in Irish equities yesterday. The stock, which has got a new lease of life since the group's largely successful rights issue, moved slightly higher during the day but closed unchanged on 7.6 cents.

The banks had an unspectacular day with AIB closing uchanged on €15.45, despite trading as high as €15.60 at one point. Anglo Irish Bank was also static at the close, having traded at slightly lower levels earlier.

Bank of Ireland was the best performer among the mainstream financials, adding 12 cents or 1 per cent to €12.13. Irish Life & Permanent was another to finish ahead on the session, adding five cents to €14.30.

Housebuilder McInerney dealt in relatively high volume following a positive trading update from the company. The stock traded up to €7.10 early in the immediate aftermath of the update before coming back slightly to close on €7.05, up five cents on the day.

The parties embroiled in the insider trading case at the Four Courts had a reasonable day. Fyffes closed a cent stronger on €1.99, largely on the back of a positive trading update from sectoral rival Geest.

Most of the trade in DCC was at the €7.55 level though it came back to finish unchanged on €7.40.

Greencore had another solid session, adding almost 3 per cent to close on €3.19, up nine cents.

Ryanair was moving the other way, slipping eight cents to €5.70, though there was little driving the stock. Paddy Power was another to weaken on the day, giving up 15 cents to €11.05, although volumes were very light.Dublin ReportSettlement Date: January 19th