It was a relatively quiet day in the Irish market yesterday, with dealers reporting lower than usual volumes.

There was however one star performer. Drinks group C&C put in a good showing, rising 4.2 per cent, or 25 cent, to close at €6.23. Dealers said there was no real news propelling the stock, which is the subject of a series of different rumours, ranging from it being a takeover target for Scottish & Newcastle, considering a distribution agreement with a UK brewer and talk that the AC Nielsen drinks market data which was due to come out on Friday had been delayed.

Citi released what, in the circumstances, was a relatively upbeat note, presaging a renewed marketing effort and a possible link with a UK brewer for distribution.

Whatever the reasons, dealers reported decent interest in the stock, which saw more than 5.6 million units change hands.

Elsewhere there wasn't much going on, with the financials all ending the day in negative territory. Irish Life & Permanent was the biggest of the banking losers, dropping 4.2 per cent, or 72 cent, to close at €16.25.

One dealer attributed the decline to the ongoing concerns about the property sector and the mortgage market.

The other financials fared slightly better, though volumes were light. Bank of Ireland dropped 1.9 per cent, or 24 cent, to end the day at €12.48, while AIB closed 14 cent lower at €17.71. Anglo meanwhile slipped 10 cent, to close at €13.45.

Food groups Kerry and IAWS were both decent movers, with the former gaining 3.6 per cent, or 69 cent, to close at €20.14, while the latter fell 2.3 per cent, or 36 cent, to end the day at €15.35. Dealers could pinpoint no reason for these stocks to move in opposite directions.