Financial shares were among the more active stocks on the Irish market yesterday as the ISEQ edged higher. Dealers reported good demand for Irish Life & Permanent and Anglo Irish Bank in particular with the former adding 26 cents or around 2 per cent to €12.80.

Settlement Day: September 16th

Meanwhile, Anglo, which is expected to publish its pre-close trading statement later this month, added 33 cents or 2.3 per cent to €14.67 as investors hoped for good news.

Gains at the two main banks were more modest with AIB up five cents to €13.30 while Bank of Ireland added a similar amount to close at €11.25.

Elsewhere, Ryanair shares nudged up by three cents to €4.26 despite a warning from chief executive Mr Michael O'Leary that falls in average fares in the second half would be at the worse end of its 10 to 20 per cent forecast range. However, the airline retained its full-year profit guidance, saying it continued to expect a 20 per cent rise in after-tax profit.

Shares in Tullow Oil gave up four cents, or 2 per cent, to €1.88 in Dublin despite a good set of first-half results from the company. However, dealers noted the figures only included a one-month contribution from the recently-acquired Energy Africa, a purchase that has transformed the company.

Shares in Elan shed 14 cents to €19.10 despite comments from chief executive Mr Kelly Martin that it remained on track to wrap up the SEC investigation into its accounting practices by the end of the third quarter.

Other movers yesterday included bookmaker Paddy Power, which added 20 cents or 2 per cent to €9.75. Kingspan remained strong, gaining five cents to €5.55, an all-time high.

More than three million shares in Independent News & Media changed hands as the stock added two cents to €2.07 ahead of the release of interim results on Wednesday.

Norish, which is currently in takeover talks with an unnamed suitor, added another five cents to €0.90.