Turnover slows to trickle but Eircom stirs a little

With London closed and little of note happening on international markets, turnover on the Dublin market slowed to a trickle with…

With London closed and little of note happening on international markets, turnover on the Dublin market slowed to a trickle with little more than minor price movements among the leading stocks.

After hitting a post-flotation low of €2.40 last Thursday, Eircom has shown some signs of life and was another six cents firmer on €2.54. The prospects for the share, however, are poor given the imminent sale of the KPN 21 per cent stake and the fact that Telia's 14 per cent stake is going to overhang the Eircom share until the new year at the earliest.

AIB and Bank of Ireland had one-cent movements, with AIB closing up a cent on €9.58 and Bank of Ireland down a cent on €6.68. CRH - due to report interims next week - was three cents firmer on

€18.75 while Kerry, reporting interims tomorrow, was five cents firmer to match its previous all-time high of €14.90.

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Grafton continued to get the benefit of its London property windfall and was 50 cents higher on €23.50, DCC was 20 cents higher on €11.00, while Fyffes managed to regain four cents to close on 99 cents. IWP gained five cents to €1.80, boosted by recent buybacks and share purchases by chief executive Mr Joe Moran. Marlborough, boosted by takeover speculation, was 15 cents firmer on €2.15.

Technology shares were mixed. Neuer Markt-listed Conduit added another 45 cents to €17.20, while Trintech was €1.40 higher on €26.80. Trintech was also stronger on Nasdaq where it was trading 75 cents higher on $24 (€26) by midday.