Market report: The Irish stock market followed overseas markets lower as rising oil prices continued to unnerve investors. Most of the leading shares ended the day lower amid a lack of stock-specific news.

Bank of Ireland provided one of the few news stories of the day as it emerged that the bank had signed up to the Labour Court recommendations on its cost-cutting programme.

Although viewed as positive in the market, shares in the bank ended six cent lower at €12.89 as they reflected the general sector weakness.

Other banking shares also tracked their international peers lower with AIB shedding 29 cent, or 1.7 per cent, to €17.21 while Anglo Irish Bank lost 12 cent, or 1.2 per cent, to €9.76.

Dealers reported good trading in CRH, with more than eight million shares changing hands as the shares finished 10 cent lower at €22.00.

Ryanair was another stock to end the day in negative territory, losing 11 cent or 1.7 per cent, to €6.33 as the price of crude oil flirted with the $60 level.

However, there were some bright spots amid the general weakness. Building materials group Kingspan had a good day, finishing 30 cent or 3.2 per cent higher at €9.75.

DCC also finished 19 cent, or 1.1 per cent, higher at €16.94 in the wake of last week's acquisition.

Waterford Wedgwood shares added 3.8 per cent to €0.06 as an extraordinary meeting of the company approved its latest rights issue and a "whitewash" allowing the major shareholders in the group to increase their stake by partaking in the issue.

Shares in Jurys Doyle were unchanged at €15.20 in the absence of any further developments at the company while Greencore edged up by one cent to €3.43 ahead of the EU Commission's publication of its sugar reform proposals later this week.

Reflecting the general weakness in the market, the Iseq Exchange Traded Fund (ETF) closed the day 11 cent weaker at €12.94.

Settlement Date: June 23rd