The Irish stock market closed marginally higher yesterday as banking stocks turned in a good performance compared to their overseas counterparts.

AIB added 20 cents to €14.11 as its Polish subsidiary, Bank Zachodni WBK, announced better-than-expected third-quarter results. Analysts said the results augured well for AIB and the improved contribution from Poland should help offset the effect of current dollar weakness on AIB's figures.

Bank of Ireland also edged up, closing six cents higher at €11, ahead of interim results tomorrow.

Elan managed to hold onto Monday's strong gains in Dublin, closing two cents higher at €23 as brokers upgraded their price targets for the shares. NCB now believes the stock can hit $37 due to the prospects of achieving a higher price for Antegren and better market penetration, following the release of Monday's better-than-expected trial data.

DCC was also the subject of upgrades from the broker community in the wake of Monday's solid interim results. But the shares marked time yesterday, adding just five cents to €15.70.

Other movers included C&C, which gained five cents to €2.65 as more than two million shares changed hands. The lock-up period for BC Partners, which retained 34 per cent of the company after flotation, expires this week and investors will be waiting to see if the venture capital company decides to sell its shareholding.

Meanwhile, Fidelity has emerged as a recent buyer of the shares, acquiring a further 0.74 per cent of C&C stock to lift its stake to more than 12 per cent.

Dollar-sensitive stocks remained on the back foot with CRH shedding 12 cents to €19.07, while Kerry was off 15 cents at €17.95. Ryanair also gave up a little ground after its recent rally, closing four cents lower at €5.05.

But Jurys Doyle, which recently opened its Heathrow inn, edged up by three cents to €10.70.