Market report: Shares in Dublin managed to make modest gains with Ryanair and recruitment company CPL enjoying the largest gains on the day.

The low-cost airline gained more than 2 per cent, rising from €7.72 to €7.89 following news that it will introduce online check-in for passengers and charges for luggage from March.

Ryanair shares had opened strongly, but lost some of those gains in the afternoon.

The airline, which will announce results next month, claims the move will reduce airport and staff costs by as much as €30 million.

The company also stuck with its forecast for a 10 per cent rise in profit for the year to the end of March.

CPL had another good run following strong profit figures on Monday and the placing of 5.1 million shares by the group's directors. The shares rose 10 cent to end at €4.10, up 2.5 per cent.

However, the financials put in a mixed performance.

Bank of Ireland weakened, shedding 10 cent to €13.70, with good dealing volumes throughout the day. Anglo also ended down, slipping to €12.65, down 2 cent.

AIB moved ahead, adding 26 cent to €18.18, while Irish Life & Permanent was in good demand ending at €17.15, up 7 cent.

CRH struggled a bit on fairly thin volumes, sending the shares down to €25.41, 32 cent lower on the day.

United Drug fared well on buying interest with 2.5 million shares traded in Dublin. United Drug shares rose to close to all-time-high levels of €3.75, 7 cent higher.

Independent News & Media was unchanged at €2.70, while Eircom added 2 cent to €1.95.

In the food sector, Kerry lost 10 cent to €18, Fyffes was one cent lower at €2.27, Glanbia was unchanged at €2.60, while Greencore was down 5 cent at €3.45 on the back of some selling.

Other stocks traded included betting company Paddy Power, which was up 10 cent at €12.35, while Kingspan ended at €11.15, down 5 cent.