The market moved higher yesterday, helped by a good performance from the two leading banks despite the negative weekend publicity.

Bank of Ireland recouped most of Friday's 4 per cent loss, adding 35 cents or 3.6 per cent to €10.05, despite the sudden resignation of its chief executive, Mike Soden.

AIB also closed higher, gaining 27 cents or 2.3 per cent to €11.87, again despite the continuing fallout from recent revelations of improper behaviour at the bank.

However, dealers noted that both the US and British markets were closed for bank holidays, meaning many overseas investors in the two banks were not yet aware of the most recent developments in Dublin and the real market reaction would be seen today.

Talk of takeovers, with both financial institutions seen to be vulnerable, were just that at the moment, dealers said.

"RBOS owns First Active, HBOS would have to issue paper to do it and the European guys are all on very low ratings. Besides, there are no synergies from buying an Irish bank," one trader said.

Other movers yesterday included Eircom, with more than 5.8 million shares traded as it lost five cents to €1.44 ahead of the release of results today.

Ryanair, which is also releasing its full-year results, added four cents to €4.38.

Kingspan, which like Eircom was included in the MSCI indices from the end of last week, also enjoyed good volumes.

Nearly two million Kingspan shares traded as the price slipped by 10 cents, or 2 per cent, to €4.75.

Fyffes issued a better-than- expected trading statement at its annual meeting and saw its shares rise three cents, or 1.9 per cent, to €1.63. Chairman Carl McCann told shareholders that "the group has made a strong start to the year. Operating profits to date are ahead of expectations, helped by good results in a number of locations."Dublin ReportSettlement Day: June 3rd