Despite buoyant international markets, the Irish Stock Exchange logged another lacklustre day with thin volume trade possibly reflecting greater interest in the prevailing sultry weather.

Irish investors failed to respond to international relief at US interest rates remaining unchanged.

"Volumes were not particularly high and the prices were easing back on the day," one dealer said. The financials saw the most activity, with AIB shedding just over 16p to close at 935p, Bank of Ireland off 30p at £13.70 and Irish Life down 9p to 605p, although it is early days for deciding if investors consider that bank prices are over-valued. Irish Permanent slipped 15p to 895p, Anglo Irish Bank was down just 3p at 190p, while Hibernian slipped 70p down to 730p.

Positive results yesterday from Marlborough and Barlo were in line with market expectations and failed to make any impression on their share prices. Barlo, which announced pre-tax profits of £8.5 million, held on to its 88p price after two deals, while Marlborough, announcing a pre-tax profit of £3.07 million, stayed at 340p. The resource company, Arcon, followed the trend, remaining at 30p after pre-tax losses of £3.59 million were reported, reflecting restructuring costs of £1.9 million.

The main industrials were down, with CRH shedding 23p to £10.51, Ryanair slipping 8p to 520p and Smurfit losing 4p to 250p. Goodbody has upgraded its assessment of Smurfit, based on a successful conclusion of the JS Corp/Stone deal and an increase in linerboard prices, of 21.2p per share for 1998, up from 16.7p. Bucking the trend yesterday were Elan, up 100p to £45, Independent, up 10p to 410p and IWP, up 2p to 460p, reflecting continued approval of the Jeyes Group deal.