Market report:Weak was again the keyword in the Irish market yesterday as a lack of local news left the Iseq index little choice but to continue the downward momentum seen overnight in Asia, a move which pushed it to its lowest closing level this year.

Anglo Irish Bank was particularly badly hit as the stock fell 23 cents, or 1.5 per cent, to close at €15.51. More than 2.2 million shares changed hands.

Volume was lighter in the other financials, though they too traded lower.

Bank of Ireland was down 16 cents at €17.14, while AIB slipped 7 cents to end the day at €22.13.

Tullow Oil also had a bad day, falling 8 cents, or 1.3 per cent, to close at €6.04 in Dublin after releasing a trading update that one broker described as "benign". The news was in no way negative, but there was also no positive surprises to encourage buying interest, one dealer said. In London, the stock's main market, the shares were down 1.7 per cent at £3.98.

Elsewhere, building materials group CRH was in focus, with 2.4 million units trading, though the shares fell 23 cents to €30.30.

Drinks group C&C was one of the few gainers.

The stock has had a volatile time recently following concerns about the higher-than-expected seasonal nature of sales of its Magners cider in the UK. Yesterday it climbed 18 cents, or 1.6 per cent, to close at €11.38. As many as 5.5 million shares changed hands. UTV was also a gainer, jumping 7.5 per cent in Dublin and more than 9 per cent in London, where the stock more regularly trades. It was unclear what prompted the moves though volumes were heavy in both markets. Market sources said there appeared to be a Dublin buyer in the market.

UTV shares closed up 42 cents, at €6.04 in Dublin.