Shares in construction group CRH closed over 5% lower on Friday, after forecasts from Euroconstruct predicted that the Irish construction market will shrink by 7.25% next year. It also predicted that it would fall another 4.3% in 2004.
According to Stockbrokers ABN Amro, the Euroconstruct twice year figures show a sharp revision downwards on previous estimates.
Ireland accounts for 15% of CRH's profits.
CRH shares suffered in September following the announcement that one of its US divisions is the subject of asbestos litigation.
Dresdner Kleinwort Wasserstein also downgraded its rating on CRH shares from buy to hold earlier this week.
The shares closed down 75 cent to end the week at €13.60 in Dublin on Friday evening.
