The ISEQ was marginally ahead six points on 5615.68 this afternoon following losses by the main financials which were offset by gains in Elan shares.
AIB was off 20 cents on the morning it announced a cut in its fixed rate mortgages and at midday had dropped to euro 12.86. Bank of Ireland also eased down 10 cents to euro 9.72 while First Active remained steady on euro 2.25 while Irish Life and Permanent eased down two cents to euro 11.98.
Tech stocks have enjoyed a mini-revival on the Nasdaq which has not transferred into the Irish market. The collapse yesterday of e-commerce solutions company Ebeon with the loss of 170 jobs coupled with job losses at Fyffes’ worldoffruit.com has created further unease in the sector.
Iona dipped this morning after gaining 8 per cent yesterday and by midday shed 150 cents to euro 65.50. Educational software producer Riverdeep shed 10 cents to euro 3.20 while Horizon bucked the trend and added five cents to euro 7.25.
Eircom shares were steady on euro 2.53, pharmaceutical company Elan leaped ahead 175 cents to euro 52.25 while construction company CRH eased down to 19.00, a fall of three cents.
London technology shares were building on a broad-based rally at midday, as the sector's positive trend was reinforced by indications that Nasdaq was set for a strong opening, dealers said.