Reluctant investors look to events in Japan

Iseq: 2,820.72 (-24.17) Settlement date: March 17th:YESTERDAY WAS another quiet day on the Dublin exchange with traders reporting below-average volumes as investors worried about events in Japan and the general economic situation.

In tandem with most European markets, Dublin was under pressure during the morning. When New York opened and prices began to dip there, the effect was felt across the European exchanges, including in Dublin.

The two companies that published results yesterday produced figures that were in line with expectations and trade in their shares remained very slow.

Ferry operator Irish Continental Group (ICG), which owns Irish Ferries, announced a 61 per cent increase in pretax profits in 2010, an increase in passenger numbers, and the sale of one of its ships. However, only 6,000 ICG shares traded during the day. The stock closed at €17.60, an increase of just 0.29 per cent.

The other company to release results was food group Aryzta. Revenues jumped by more than a third in the six months to the end of January.

However, the stock ended the day down 0.94 per cent at €33.6, effectively mirroring the performance of the exchange generally.

Bank of Ireland had a good day, with a reasonable number of shares changing ownership. It finished at €0.31, a rise of 4 per cent.

AIB was becalmed, with little interest in the stock. It closed at €0.22, a fall of 2.16 per cent.

CRH ended the session at €15.11, a drop of 0.43 per cent. Volumes were low. The same was true of Ryanair, which closed at €3.35, down 0.45 per cent, and Aer Lingus, which closed at €0.79, a fall of 3.66 per cent.

United Drug was up 2.52 per cent on the day, closing at €2.44, while Greencore was up 1.71 per cent, closing at €1.19.

Glanbia had a good day, closing at €4.09, a rise of 2.45 per cent.