The Iseq index of Irish shares ended the day little changed yesterday on what was overall a pretty uneventful day.

Local news was little and far between, with the small amount of movement that did take place being influenced by external events such as currency fluctuations. Dealers reported significant interest in Ryanair, with almost five million shares changing hands. The stock rose 10 cent, or 1.7 per cent, to €6.17, a move traders attributed to the gain in the value of the pound versus the dollar.

One dealer said that not only was the weaker dollar good for the group's cost base, but the stronger pound will also help it on the cash front.

Building materials group CRH meanwhile fell 39 cent, ending the day down 1.2 per cent, at €32.40. The decline in the value of the dollar is bad news for CRH, which makes about half of its profit in the US.

Elsewhere, drinks group C&C was the subject of some profit taking following a good run in recent days. The shares slipped 10 cent, to close at €12.45.

Property group Blackrock was also a loser following gains on Monday. Its shares closed down 2 cent, or 4 per cent, at 48 cent.

The financials were relatively quiet after what was a very active day on Monday, while shares in Independent News & Media failed to react to news that the group had increased its bid for Australian media group APN.Shares in the newspaper group were down just 1 cent, at €3.67.

Elsewhere, strong results from UK supermarket chain Tesco were deemed positive for Irish food groups such as Kerry after it said more than 80 per cent of its fresh produce now comes from local suppliers and all its fresh meat is sourced here.

Kerry yesterday added 30 cent, or 1.3 per cent, to close at €22.75.