Shares felt the reverberations of disappointing economic data in the US issued in the afternoon, which raised fresh concerns about the health of the US economy.

Volumes throughout the day were fairly thin but stocks that had been performing well in the morning were hit by the weaker tone as it emanated from Wall Street.

The main talking points in the market were AIB and CRH.

AIB reported solid results for the first half of 2003, posting figures broadly in line with expectations. The bank's underlying business performed well in the first half of the year but earnings were hit by adverse currency movements and exceptional costs.

The shares traded as high as 12.80 but were eventually forced lower when selling pressures emerged in the market in the afternoon. The stock ended at 12.40, down 25 cents, with about 2.9 million shares traded.

The announcement that CRH had made a 646 million acquisition overshadowed AIB's news and was very positively received in the market. The acquisition of Cementbouw Handel & Industrie of the Netherlands from British private equity firm CVC Capital Partners is its biggest deal to date and was immediately being talked about as having the potential to enhance earnings. CRH shares ended the session 33 cents higher at 16 as analysts began to assess the impact of this new addition on group profits.

Otherwise trading was fairly patchy. Ryanair shares closed unchanged at 6.03 on the back of modest activity. Bank of Ireland closed 14 cents lower at €10.12.