Drinks and snacks group C&C was the main story on the Irish stock market yesterday as the stock lost nearly 4 per cent after releasing a trading statement.

The shares shed 23 cent, or 3.9 per cent, to €5.65 as the group warned that its soft drinks and snacks division was facing tough trading conditions.

Although C&C expects this to be offset by a strong performance from its cider division, bolstered by the continued rollout of Magners in the UK, the news weighed on the share price. Dealers said the prospect of increased marketing investment to support Magners, allied to a decision by analysts not to upgrade their forecasts, also dampened enthusiasm for the shares.

Elsewhere, the banks had a good day with Anglo Irish the best performer. It added 29 cent, or 2.1 per cent, to €13.89 while AIB closed 20 cent higher at €20.20 and Bank of Ireland gained 11 cent to €15.01.

Other gainers included Grafton Group, up 22 cent or 2.2 per cent, to €10.23 amid growing optimism about the impact on its DIY division of SSIA spending. Ryanair added 11 cent to €7.71, helped by a dip in the oil price. In contrast, Kerry Group shed 14 cent to €18.65 ahead of publication of its annual results today.

Investors are also focusing on figures due from Glanbia and Paddy Power on Wednesday.

"They are important bellwethers for the Irish market," one trader noted.

Trading in Eircom was much quieter than of late, with just 4.5 million shares changing hands in Dublin as the stock remained unchanged at €2.21.

Meanwhile, the Irish Stock Exchange had a new entrant yesterday. AGI Therapeutics, a drugs company focused on gastro-intestinal treatments, began trading on Dublin's IEX as well as London's AIM market.

The stock, which opened at €1.26, added 14 cent to €1.50. It is the first company to list on IEX this year and brings to 14 the numbers of stocks now traded on the junior market.