Last Friday's embarrassing blackout of large sections of the fixed line and mobile telephone networks in Dublin had no discernible effect on Eircom shares on the Dublin market. The 6 1/2 cent fall to €4.08 1/2 (£3.22) was put down to profit-taking.

Eircom shares actually traded higher in early trading and hit an early level of €4.20 before succumbing to profit-taking which brought the share as low as €4.06 before closing on €4.08 1/2.

Dealers said that while last Friday's events were embarassing for the telecoms group, they were not a significant factor in investors' attitude towards the stock. They added that with the half-year results now out of the way, Eircom is likely to trade in a relatively narrow range above and below the current level.