The Iseq edged closer to the key 3,000 resistance level today before slipping into the red as investors awaited the US Federal Reserve’s decision on monetary policy.
Global markets rose initially, supported by estimate-beating results from corporates such as Ericsson and Whirlpool.
The Irish market was about 1 per cent ahead at lunchtime but lost its gains during the afternoon session as US markets opened and investors adopted a "wait and see" stance ahead of Federal Reserve chairman Ben Bernanke's inaugural news briefing this evening.
By the closing bell, the Iseq was about 0.2 per cent down at 2,970.08.
Paddy Power continued its good run of form, however, recording an all-time high of €32.99 at one point. It retreated a little to close at €32.50, but this still represented a gain of about 2 per cent on the day.
Elsewhere, Ryanair was well bid, and moved ahead in line with its sector. The airline finished more than 2 per cent up, or seven cent, at almost €3.43.
Meanwhile Kenmare Resources fell more than 3 per cent, or almost two cent, to 51 cent, on news that work had been temporarily suspended at its Moma mine in Mozambique due to an unofficial strike.
National benchmark indexes rose in 12 of the 18 western European markets today. The UK's FTSE 100 slid 0.2 per cent, while France's CAC 40 gained 0.5 per cent and Germany's DAX climbed 0.6 per cent.
Additional reporting: Bloomberg
