Second-liners feature on quiet day

SOME interest in second line stocks was the feature of a fairly quiet day on the Dublin market

SOME interest in second line stocks was the feature of a fairly quiet day on the Dublin market. Dealers reported a "good level" of bed and breakfast and other tax based activity in advance of the Easter weekend which coincides with the end of the tax year.

The Dublin market was biding time ahead of the "big number" employment figures in the US today, according to one dealer.

Among the second liners there was interest in Clondalkin which closed 20p stronger at 450p in a deal put through. Clondalkin is seen as a strong contender to buy paper and packaging company, Inishtech, from James Crean when its takeover of Inishtech is completed.

In line with the rise in Clondalkin yesterday, Inishtech shares jumped 15p to close at 550p the price offered by Crean for the remaining shares in the company. The British group Wace is seen as another potential buyer of Inishtech. Crean closed unchanged at 20p.

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Waterford Wedgwood edged up again closing 1/2p stronger at 67p after "well received" results this week. Dealers described the shares as well bid at the 67p level. Norish put on 15p to close at 80p.

Some food stocks improved after a difficult week. Waterford Foods, now ex-dividend, closed 2p stronger at 102p while Kerry put on 5p to close at 560p in a put through deal. Avonmore slipped back to 140p in early trading before recovering to close unchanged at 145p. But Golden Vale closed lp weaker at 73p.

Reflex which yesterday reported a return to operating profits for 1995 and a fall in pre-tax tosses gained 1/2p to close at 91/2p.

Among the financials, bank stocks held firm. AIB, which slipped 2p to 326p at the start of trading and rose in a number of put through's to touch 330p, closed unchanged at 328p at the end of the day. In quieter trading Bank of Ireland slipped to 428p before closing unchanged at 429p.

Smurfit which reports 1995 results next week edged down 1p to close at 156p in a late deal.