MARKET REPORT: Anglo Irish Bank was one again the star turn of the Irish market, basking in the warm glow of the bumper half-year results and a host of upgrades from analysts. In Dublin, the shares traded as high as €6.80 before closing 28 cents higher on €6.65, with more than 2.1 million shares trading.

Irish analysts were clambering over themselves with superlatives to describe the Anglo figures. ABN-Amro added the stock to its "buy" list and put a €7.35 fair value price on the shares. Davy increased its full-year profit forecast to €244 million and put a €7.10 price target on the shares.

The other banks were marginally firmer with AIB up 12 cents on €14.92, Bank of Ireland three cents firmer on €13.03, while Irish Life & Permanent gained 14 cents to €16.14. AIB and Bank of Ireland have been added to Warburg's "overweight" list. Warburg has increased its price target for AIB from €11 to €16 and its Bank of Ireland price target from €13 to €14.50.

Industrials were generally firmer despite the profit-taking on overseas markets, with CRH 15 cents higher at €19.55. The Smurfit first-quarter results were in line with forecasts, but the share price is not being driven by historic results nor even current trading comments. The approach from Madison Dearborn is the driving factor and that is likely to remain the situation. Yesterday, Smurfit gained three cents to €3.20.

Fyffes jumped seven cents to €1.48 in heavy trading of 2.2 million shares, but Glanbia fell five cents to €1.52 on fears that the fire at the Roosky plant could affect the group.

Ryanair remained out of favour and fell 15 cents to €5.80. The stock is now almost 20 per cent off its €7.20 high of two months ago.