SHARE prices drifted lower in generally thin trading, with weaker international markets not providing impetus to push the market ahead. The exception to the thin trading was Smurfit, where dealers reported some sizeable trading although the share price hardly moved.

More than 2.7 million Smurfit shares traded in London and there was substantial turnover in Dublin also following a good overnight performance on Wall Street by JS Corp. In Dublin, Smurfit shares were down a penny on 173p while the share closed 1/2p lower on 178 1/2p sterling after opening at 182p sterling.

CRH eased back after its sharp rise on Tuesday and closed down 4p on the day on 596p.

Food stocks were, as usual, mixed with Kerry up another 10p to yet another new high of 635p. Dairy stocks drifted lower as the market took the view that the 3p cut in the milk price was not enough and that another 3p would come off the milk price, possibly for June milk deliveries.

Avonmore was 3p lower on 147p, Waterford Foods lost 1p to 94p and Golden Vale did not trade from its overnight 65p.

New Ireland jumped another 50p to a high of 800p in tiny turnover on continuing speculation that Union Assurance de Paris may soon move to buy out the 17 per cent minority shareholdings. Independent regained 5p to 515p after its big after hours fall on Tuesday while, among the explorers, Minmet jumped 5/8p to 2 3/8p.

Tullow was still drawing bids at 91p as the market closed with some in the market still convinced that a bid will be made for the company at some stage.