Market Report: The Dublin market "treaded water" yesterday, closing down 2.38 points after a lack of corporate news and little movement in the overseas markets failed to give it direction.

The Iseq ended the day at 6,302.23, with generally low volumes, traders said.

Jurys Doyle, which dropped 20 cent, to close at €15.10, provided the day's only major news. The hotelier said yesterday it will close two of its three hotels in Ballsbridge in Dublin and sell five acres of land via a public tender. The company plans to develop a new four-star hotel on the site of its Berkeley Court Hotel, also in Ballsbridge.

Precinct, which had its second bid for Jurys rejected by the company's board after the market closed on Wednesday, released a statement yesterday saying it had noted the rejection and was considering its position. Precinct's offer valued Jurys at just over €1 billion.

More than 720,000 shares changed hands in trading dealers described as "pretty strong".

"It's like playing a game of wait-and-see at the moment with Jurys," said one trader.

While most of the financials failed to inspire, Anglo Irish bucked the trend, adding 27 cent to end the day at €9.97. Trading was boosted by an "aggressive buyer" in the UK, dealers said.

Meanwhile, Bank of Ireland was down 8 cent at €12.82 and AIB was little changed, down 3 cent at €16.90.

Irish Life & Permanent slipped 5 cent to €13.60.

Among the other losers were CRH, which lost 19 cent to end the day at €20.98, and Elan, which slipped 17 cent, equal to just over 3 per cent, to end the day at €5.43.

In the other direction, C&C added 5 cent, closing at €3.27, while Ryanair recovered towards the close, ending the day up 7 cent at €6.50.

Glanbia was unchanged at €2.70, after the food group named Michael Walsh as the new chairman at its board meeting yesterday. He succeeds Tom Corcoran.

Settlement Day: June 14th