Dublin Report: The financials were the stars of the Irish stock market yesterday, on what was good day for most of the Iseq's leading members.

Demand was strong across the board, with particularly strong trading in Bank of Ireland and Allied Irish.

All of the stocks benefited from a strong performance by US stocks overnight, although building materials group CRH was a particular beneficiary of news from the US, where results from Caterpillar on Thursday reinforced the positive sentiment around the building sector.

The shares may also have found momentum from comments by the Dutch prime minister yesterday, who talked about a recovery in the nation's economy, one dealer said. Holland is CRH's largest market outside of the US. The stock rose 27 cent, to end the day at €26.07.

While all the banks performed well, Bank of Ireland stormed ahead, adding 39 cent, or 2.9 per cent, to close at €14.09. About 5.7 million shares changed hands.

Anglo rose 15 cent, to end the day at €13.10 after the bank reported strong trading in the first quarter of its financial year and said its board were "very confident" of continued growth.

Irish Life & Permanent was also up 15 cent, at €17.40, while Allied gained 14 cent, to end the week at €18.54. Dealers said all the banks are benefiting from the positive sentiment surrounding the Irish economy and expect to see further upside on the back of the finance bill next Thursday.

Elsewhere, Elan had a very good day, jumping 55 cent, or 4.9 per cent, to €11.85. The pharmaceutical group is due to report results for the fourth quarter on Wednesday.

Ryanair added 10 cents, to close at €8.05.

Irish Continental saw its shares rise 20 cent, to end the day at €11.30. The company is expected to reap the benefits of Dubai Ports' lack of interest in ferries. The Dubai group this week agreed a takeover of P&O Ferries, but is believed not to be interested in the ferry arm of the business. ICG are seen to be the likely buyer, one dealer said.