The ISEQ gave up some of yesterday's gains to fall 41 points to 5,651 this morning. Financial stocks were weaker as investors booked yesterday's gains.
The leading bank stocks dragged the market this morning with AIB down 15 cents to euro 13.40 and Bank of Ireland off 26 cents at euro 10.26. Elan lost 50 cents as dealers nervously await key US jobs data due out this afternoon.
Independent News and Media also fell victim to profit- taking after posting impressive gains yesterday. The media group's share price shed 2 cents to euro 12.70. Eircom gained 4 cents to euro 2.59 and Smurfit moved 6 cents higher to euro 2.21.
London shares eased back from earlier highs. Gains were more limited than yesterday's strong advance after Wall Street stocks ran in to profit-taking overnight ahead of today's US jobs report.
British Software group Autonomy led the FTSE 100 index higher at midday following an upbeat trading update.
Other blue chip technology issues also managed to extend yesterday's gains in spite of Nasdaq's overnight decline, with ARM Holdings adding 15p at £5.17, and Energis gaining 11p at £4.91.
Market heavyweight Vodafone also stayed firm, up 7p at £2.45 after yesterday's subscriber data, which saw the group add 1.42 million new customers in the final quarter of 2000.