Dublin Report: The Irish market was subdued yesterday with thin volumes across all stocks.

However, news from CRH and Ryanair provided some momentum for the individual stocks but did little for the overall market.

Building materials group CRH was without doubt the star performer, rising 30 cent, or 1.2 per cent, to close at €25.65 after announcing the biggest ever acquisition in its history.

CRH said yesterday it was buying Ashland Paving & Construction (Apac), a US asphalt business, for $1.3 billion (€1 billion). Dealers said the acquisition, which had been expected following an announcement saying the two groups were in exclusive talks back in June, was received well by the market and the price was seen to be good value.

However, volumes were still light, with just over 800,000 shares changing hands.

The other newsmaker was Ryanair, although the shares moved in the opposite direction, ending the day down 8 cent, or 1.1 per cent, at €7.08.

Dealers said the stock was knocked yet again by another rise in the price of oil amid concerns about Iran's nuclear programme, which added to the general poor sentiment in the airline sector.

There are also concerns that Ryanair will be affected by a planned strike by baggage handling staff at London's Stansted airport next weekend. Ryanair has said it has no plans to cancel any flights and that its online check-in system will be working to enable travellers to check in. They will be required to carry their luggage on board.

Less than 800,000 Ryanair shares changed hands.

Elsewhere, activity was limited, with volumes muted among the financials - only Bank of Ireland and Anglo Irish managed to get over the 1 million mark. Shares in Bank of Ireland were up 8 cent, or 0.5 per cent, at €14.80, while Anglo closed 10 cent, or 0.8 per cent ahead, at €12.05. AIB, meanwhile, fell 5 cent, or 0.2 per cent, to €20.15.