Market report: The Irish stock market had another lacklustre day yesterday, leaving it marginally weaker.

Tullow provided the main investor focus, releasing full-year results showing record profits, turnover and production following its acquisition of Energy Africa last year.

But the shares gave up 11 cent or 3.9 per cent to €2.68 in Dublin while in London, their main market, they lost seven pence or 3.7 per cent to 183 pence.

Dealers attributed the weakness to profit-taking following steady gains in the share price ahead of the release and to the fact that the figures contained no surprises on the upside.

Elsewhere, activity was muted as international markets weakened and domestic news was thin on the ground.

Dealers noted that just 600,000 Bank of Ireland shares dealt in Dublin as the banking sector had a mixed day.

While the Bank of Ireland stock added seven cent to €12.55, shares in its main rival, AIB, shed two cent to €16.40.

Irish Life & Permanent dropped 15 cent to €13.85 but Anglo Irish edged up by three cent to €19.73.

Telecoms group Eircom was again one of the more active stocks, with more than 2.5 million shares changing hands in Dublin, most of it institutional business.

Volumes in London were even higher, with more than five million shares traded amid suspicions of more ESOP activity.

The stock closed just one cent lower at €1.91.

Other movers yesterday included Grafton, which lost two cent to €9.33 as a seller emerged.

Meanwhile, the Irish Stock Exchange launched the Irish Enterprise Exchange, its new market for small and mid-sized firms yesterday.

Just two of the eight stocks that transferred to the new market from the DCM and ESM were changed on the day. Minmet lost two cent to €0.02 while Providence Resources gave up 5 per cent of its value.

Settlement Day: April 15th