Aer Lingus helps Iseq touch record level

The Irish market resumed its confident advance yesterday after a stuttering start to the fourth quarter as the Iseq added just over 1 per cent by the close after hitting a record high during the session.

The performance reflected the experience of markets across Europe, with the exception of London where falling oil prices limited gains on the energy-laden FTSE 100. The heavyweights led the way with CRH, the banks, C&C and Aer Lingus all reporting strong interest.

Aer Lingus saw 20 million shares traded in Dublin as the airline continued to find itself in demand following its flotation last week at €2.20. The shares closed 10 cent, or over 4 per cent, stronger yesterday at €2.51. This was a response mainly to falling oil prices, which finished below $60 last night.

The financials attracted interest following a banking conference in London at which the four main Irish players made presentations. AIB and Bank of Ireland both added 17 cent during the session, closing on €20.65 and €15.40 respectively. Anglo Irish Bank did even better, closing at €13.25, an increase of 29 cent or 2.2 per cent.

Irish Life & Permanent was 25 cent stronger on €19.95, despite going ex-dividend by 20 cent.

It was one of three Iseq stocks to go ex-dividend yesterday and, unusually, all ended the day with gains. Housebuilder McInerney ended 18 cent, or 1.4 per cent, stronger at €12.95 after its 10 cent dividend while Grafton overcame an eight cent dividend to add 12 cent to €10.67.

C&C's strong run continued amid rumours that it might be added to one of the benchmark international indices. It closed 20 cent, or 1.9 per cent ahead, at €10.95, having earlier hit €11.10.

CRH jumped 27 cent to close on €27.