Dublin report: The Iseq could do no wrong yesterday, as a "blazing" performance by the banks pushed the index to another record close.
Positive sentiment about the global economy, corporate earnings and rising metal prices helped boost shares around the world, and activity in Dublin was no exception. Dealers reported decent volumes in all the main components and said momentum seemed to be on a roll.
The banks were the star performers, with AIB leading the way with a 60 cent, or 2.8 per cent gain, to close at 21.70.
Anglo Irish meanwhile hit yet another record high during the day before closing up 14 cent, just under one per cent, at €14.59. Elsewhere, Bank of Ireland added 25 cent, or 1.6 per cent, to close at €15.85. Dealers said they are expecting continued demand in Bank of Ireland ahead of the group's interim results next week and some possible upgrades following the announcement.
Drinks and snacks maker C&C also put in a strong performance ahead of market share data out at the end of the week expected to confirm another increase in market share for the group's Magners cider in the UK.
The stock rose 26 cent, or 2.1 per cent, to end the day at €12.95 after more than 4.8 million units traded.
Ryanair was another gainer, continuing the good run it put in on Monday following its upbeat results statement. The shares gained 17 cent, or 1.8 per cent, to close at €9.45.
Elsewhere, food group IAWS recovered from a recent spate of profit taking, rising 10 cent, or 0.6 per cent, to close at €17.10.
Building materials group Kingspan recovered some of the ground it lost on Monday after announcing it would not be appealing a decision by the Competition Authority to block its proposed takeover of Xtratherm. The shares were up 30 cent, or 1.8 per cent, at €16.60.
