Irish shares were left behind in yesterday's general recovery although dealers said that the local market is seeing a return of some modest buying interest. International markets will set the tone next week, but some gains may be in the offing bar another crisis in the Far East or Russia.
The leaders all edged a little firmer with AIB up 3 1/2p on £11.03 1/2 although Bank of Ireland drifted 4p lower to £13.00 despite the prospect of a cash injection from the sale of its 23 per cent stake in Citizens Financial to Royal Bank of Scotland. CRH bounced back 6p to 860p while Smurfit saw some busy trading and closed up 1p, on 154p. Irish Life was also marginally firmer with a 2p gain to 610p although Irish Permanent regained 12p to 840p.
Among the second-liners, Clondalkin regained 15p to 590p ahead of results next week although Crean lost 5p to 115p and is now at the sort of level where talk of break-up bids may resume. Avonmore Waterford lost 7p to 263p while Kerry was 3p lower on 835p after hitting 846p earlier in the day. Independent also saw some busy trading between 290p and 300p and finally closed up 10p on the day on 300p. On NASDAQ, Irish shares enjoyed mixed fortunes and as the Irish market closed, Iona was down $1 7/8 on $31 while CBT was down $3/4 as Bill McCabe bowed out as chairman. Esat was up $1/2 on $35 7/8 while Elan was on $68 1/2 as the Neurex deal was completed.
