Market report: The Irish stock market ended the day little changed as the closure of US markets for the Independence Day holiday left other markets rudderless.

Dealers reported activity in some of the bigger Irish stocks although their performance was mixed.

In the banking sector, Anglo Irish Bank turned in a strong performance, adding a further 10 cent to €10.40. AIB was also up, by 8 cent to €17.78, but Bank of Ireland gave up two cent to €13.48 ahead of its annual meeting tomorrow.

Shares in CRH closed one cent lower at €22.19 although dealers said recent dollar strength should prove good for the stock. Brokers are also gearing up to raise their forecasts for the company following the release of what is expected to be a positive trading update today. Consensus forecasts for the group are currently in the 175-cent range but this is expected to rise to 185 cent.

Ryanair shares added five cent to €6.50 ahead of the release of June traffic figures today

However, Grafton was hit by a poor trading statement from its British rival, Travis Perkins, which lowered profit expectations on the back of slower consumer spending and a sluggish British housing market.

Shares in Grafton, which is due to issue a trading update tomorrow, gave up 15 cent, or 1.6 per cent, to €9.35 on the news.

Eircom was another stock to register a fall on the day, losing five cent or 2.7 per cent to €1.78 following reports that the company plans to tap the market to fund a bid for Meteor.

In the food sector, Glanbia forged ahead, adding 13 cent or 4.7 per cent to €2.89 on the back of rumours that the company is poised to make acquisitions in its specialist nutraceuticals business. Kerry Group closed unchanged at €20.35 despite the likely positive impact from recent dollar strength.

Tullow Oil continued to benefit from the positive environment for oil stocks, closing nine cent or 3.3 per cent higher in Dublin at €2.83.

Settlement Date: July 7th