Uncertainty ahead of the millennium is keeping trading volumes thin in the stock markets with most investors staying away for the time being.

Standard Life Investment Managers notes the signs that the Irish market has already begun to close down ahead of Y2K. It believes the most likely result of this will be to magnify the size of price moves for individual stocks and currencies.

"If fewer investors are around then anyone trying to alter a position may need to pay up to get what they want or take a big price cut to rid themselves of something they may no longer want," it warns.