MARKET REPORT: External macroeconomic events helped the Iseq to its highest closing price since the middle of May yesterday. After a quiet start, things picked up at lunchtime after jobs figures out of the US raised hopes that the Federal Reserve may halt its two-year-long campaign of interest rate rises next week.

This gave a particular boost to the financials, which were a contributory factor in the Iseq's 1.5 per cent daily gain. This sector is also continuing to reap the benefits of positive results from AIB and Bank of Scotland earlier in the week and the ensuing earnings upgrades.

Bank of Ireland put in the strongest showing following a few days of underperformance, with the stock rising 25 cent, or 1.8 per cent, to end the day at €14.40. AIB meanwhile added 13 cent, or 0.7 per cent, to close at €19.95, while Anglo Irish Bank gave up some of its earlier gains to end the day unchanged at €11.66. Irish Life & Permanent put in a slightly stronger performance, adding 30 cent, or 1.6 per cent, to €18.80.

CRH was another gainer, rising 88 cent, or 3.5 per cent, to close at €26.23. As well as benefiting from the positive mood in the US, the building materials group also picked up some momentum from the better-than-expected second-quarter results from Germany's largest cement maker Heidelberg Cement.

Just under half of CRH's profit is derived from Europe, where after several sluggish years, an upturn is now forecast.

Elsewhere, Ryanair also put in a strong performance ending the day up 11 cent, or 1.5 per cent, at €7.58 following its positive results earlier in the week, while Kerry Group rose 56 cent, or 1.9 per cent, to close at €15.86.

Glanbia added to the gains it made on Thursday, jumping 14 cent, or 7 per cent, to €2.14.

The announcement that Horizon Technology had completed its €1.15 million acquisition of software group WBT Systems, failed to boost the share price, which fell one cent, or 1.2 per cent, to close at 84 cent.