Dublin Report: The Irish market continued Wednesday's downward trend yesterday, with poor volumes and little company news to drive trading. The ISEQ closed down 23.47 points, at 6,668.44.

Allied Irish Banks was among the biggest losers, helping to drag the index down. Shares in the bank dropped 21 cent, to end the day at €17.62 as more than 17 million shares changed hands. Traders said there was a significant switch, with investors taking their money out of AIB and putting it into Bank of Ireland.

However, this extra buying into Bank of Ireland, which also saw more than 17 million shares change hands, failed to boost its share price, with the stock ending the day 9 cent lower at €12.90.

The other financials fared slightly better, with Anglo Irish slipping only 2 cent, to €10.85. Meanwhile Irish Life & Permanent bucked the downward trend completely to end the day up 5 cent, at €14.80, as the negative sentiment in the banks failed to filter through to the insurance sector.

Elsewhere CRH fell 10 cent, to €22.60, while Grafton lost 3 cent to end the day at €8.83.

Ryanair finished unchanged at €6.65 after the stock failed to maintain what one dealer described as a strong start to the day.

Moving in the other direction, Jurys gained 15 cent to close at €17.90, a day ahead of the deadline for Bryan Cullen's Precinct consortium to make a firm offer for the company. The consortium is expected today to ask for an extension to the deadline.

According to one trader, some investors are also holding out for a higher bid from another group. The board of Jurys said last month it would be prepared to reccomend a takeover offer of €17.50 per share from Precinct.

Elsewhere, DCC gained 20 cent, to end the day at €18.75, and FBD continued its recent climb, closing up 30 cent, at €32.90.

Greencore attracted some interest from investors, gaining 5 cent, to end the day at €3.50.