Share prices weakened slightly in light trade as overseas markets failed to provide any inspiration for a lacklustre Irish market.
Most European markets remained closed for the Ascension Day holiday while the prospect of bank holidays in Britain and the US on Monday also served to subdue activity.
US markets will close for Memorial Day while Britain will be shut for the May bank holiday. "Trade is unlikely to pick up much ahead of the weekend," one dealer noted.
Irish stocks got off to a firm start, boosted by a 116-point surge on Wall Street on Wednesday amid relief over news that Indonesia's President Suharto had resigned after 32 years as leader of the economically troubled nation.
Signs that the Asian troubles may slow the US economy without a rate hike also cheered Wall Street.
But the Dow failed to maintain its firmer tone when it opened yesterday and what European markets were open drifted off in its wake.
In London, the FTSE staged an initial rally on foot of Dow strength as benign British retail sales data also boosted sentiment.
But the lacklustre Wall Street opening meant it ran out of steam in the afternoon as did shares in Dublin.
"There were no great movers and shakers among the main stocks and overall volume was pretty light," one trader said.
The banks put in a mixed performance with AIB rising 6p to 941p while Bank of Ireland drifted off 5p to £13.65. Irish Life was steady at 605p, while Irish Permanent was also unchanged at 895p.
Activity in industrial stocks was also light. CRH shed almost 2p to just over £10.49 in a late sterling trade, Greencore was unchanged at 395p and Kerry Group added 3p to £10.28.
Ryanair firmed by 5p to 525p, while Smurfit was down 1p at 249p. Dealers said the market was pleased with the appointment of Aer Lingus chief executive, Mr Gary McGann, as Smurfit's new chief financial officer, but weakness in the US paper sector was the main factor affecting the share price.
"It's a good move for Smurfit but it leaves the State jewels looking a little bit tarnished," one trader said.
Second-line stocks were generally more offered than bid and dealers said they had been suffering from a lack of liquidity of late.
Recruitment group Marlborough, which announced a near fivefold increase in annual pre-tax profits to £3.07 million on Wednesday, gave up 10p to 330p.
Bathroom products manufacturer Qualceram, which held its first annual meeting yesterday, was down 15p at 200p. Unidare, which releases interim results next Tuesday, shed 10p to 285p, while Grafton dropped 50p to £18.60.
Meanwhile, the Irish bond market firmed following a successful auction. The National Treasury Management Agency (NTMA) auction of £150 million of 10-year bonds was covered 2.57 times.
