Irish shares ended broadly unchanged as the reporting season got into full swing with results from Waterford Wedgwood, FBD, Jermyn and Independent News & Media's New Zealand subsidiary, Wilson & Horton.
However, all failed to make significant gains on foot of the figures with some even slipping back as investors took profits.
Waterford Wedgwood, which announced a 35 per cent rise in pre-tax profit to €68.7 million, gave up almost three cents to close at €1 as investors availed of the opportunity to sell after its rise in recent days.
Independent News & Media was unchanged at €11 despite results from Wilson & Horton showing a rise in profits, while property group Jermyn and insurer FBD did not deal after announcing profits increases in 1999.
Ryanair, which announced plans to raise £100 million (€127 million) through a placing of ordinary shares, lost more than 56 cents to €8.35. The announcement that chief executive, Mr Michael O'Leary, was to sell five million shares and some profit-taking after its recent strong run, was behind the selling, dealers said.
In the financial sector, Bank of Ireland regained some ground to close more than 23 cents higher at €6 but AIB was down two cents at €8.67. Irish Life & Permanent managed only a modest gain of nearly three cents to €8 ahead of results today.
Irish shares listed on the Nasdaq fared better than those at home as the US hi-tech market powered through the 5,000 level in the first minutes of trading despite a sharp early fall in the Dow after a profit warning from consumer products giant, Proctor & Gamble.
