Another bullish day on the stock exchange saw trading concentrating on the banks and financials, although CRH continued its ascent of recent days and in the light of its acquisition of four US groups.

Dealers said the interest in financial stocks and the banks was being driven by international developments and the strength of the bond markets. CRH was reported to have a lot of international interest, particularly after it was recommended by one British stockbroker. It rose 16p to 799p and is seen as a quality share after similar British companies had disappointing results. Bank of Ireland continued to be on form, trading actively upwards in eight deals, finishing with a sterling deal of 784p (870p).

AIB also continued its revival, notching up another 8p gain on Tuesday's 4p gain, to finish at 615p. Anglo Irish Bank put up 4p to finish at 110p. All the indications were positive for the financials: Norwich Union made a 10p gain and closed at 370p, Irish Permanent closed 10p up at 660p, Irish Life made a 6p gain to 366p and Hibernian closed 5p up at 470p. Among the second-liners, IWP had one deal at its opening price of 320p, following the announcement that it had acquired the remaining 30 per cent stake of its Polish distribution company, Polbita. McInerney traded upwards by 8.7 per cent, rising from 69p to 75p following Tuesday's good results for the first half of 1997.

Crean also made a gain after its sale of Doutwaites florist business for £7.7 million sterling, closing 10p up at 160p.

Ennex and Glencar both had some interest focused on them after positive announcements on their overseas mining interests. Ennex gained 3.5p, a 9.3 per cent increase to 41p, while Glencar rose by 1.5p, going to 55p.

United Drug announced that valid acceptances had been received for 93 per cent of Dublin Drug's ordinary share capital, amounting to 4,126,531 shares.