DUBLIN REPORT Iseq: 2,691.41 (-14.67) Settlement Date: July 6th

THE ISEQ index slipped almost 15 points lower to close at 2,691.41 yesterday. The index had registered steep falls in early trading, hitting a low of 2,667 in the morning, but regained some ground to end the session only marginally lower than the previous day.

However, the performance of the Dublin market was in stark contrast to other European markets, which all saw gains.

The Iseq's relatively poor performance was attributed to the falls sustained by its two biggest constituents, CRHand Elan, which together represent almost 40 per cent of the index. Both ended the day lower. CRH, which represents 32 per cent of the index finished the day 2.76 per cent down at €15.85, a fall of 45 cent.

The drop may reflect concerns ahead of the company’s trading statement, due to be published next Tuesday, with some analysts saying that disappointing data by industry peers in recent weeks may be weighing on sentiment.

Nonetheless, there was a healthy two-way market for CRH throughout the day, with a relatively high volume of CRH shares traded during the session.

Pharmaceutical giant Elanwhich comprises 7 per cent of the Iseq, ended the day lower at €4.79, a drop of 8 cents, as concerns about the rate of new instances of PML rumbled on.

Smurfit Kappashed 3 cents to close at €3.80, after the announcement of job losses yesterday in Cork and a slight tweaking by UK brokerage UBS of its forecast for the company.

Banking shares showed relatively little activity, although they picked up towards the end of the day. AIBclosed at €1.74, up 2 cents, while Bank of Irelandshed just over 2 cents to close at €1.66. Irish Life & Permanentreversed its recent strong performance, closing 3.2 per cent lower at €3.51.

Ryanairended the day slightly higher, up 8 cents to end at €3.34.