Market report: The Dublin market put in a good performance on Friday, bucking the weaker trend internationally.

Fresh rumours about a takeover fuelled volume in Eircom, with most of the activity coming from hedge funds and day traders.

Eircom gained 4 per cent on the strength of this interest ended the week at €1.97. A range of scenarios were being discussed in the market but dealers were giving them little credence.

Ryanair was the other talking point. The shares were steadier and managed to make progress during the session helped by strong passenger figures for January and a drop in oil prices. The shares closed 12 cent better at €7.72 on reasonable volumes.

Passenger figures rose by 24 per cent to 2.5 million last month with investors awaiting Ryanair's third-quarter results on Monday and watching for news on how the airline will manage its fuel costs going forward.

In other trading, the financials had a good day.

Bank of Ireland got a boost following a positive note from a UK brokerage that set a €17.50 price target for the stock. It closed 20 cent ahead at €14.35.

AIB was also stronger, rising 15 cent to €18.55 and Anglo Irish Bank added 13 cent to €13.08. Irish Life & Permanent gained 15 cent to €17.65. Dealers reported strong buying interest in the sector yesterday following on from strong credit growth figures.

Measures in the Finance Bill aimed at boosting pensions coverage was also a positive factor.

CRH continued to benefit from strong indicators coming from the US as its peer report earnings. The stock ended at €26.59, up 19 cent.

Fyffes was in good demand and ended the week 1 cent better at €2.29.

Amongst the other stocks traded, Independent News and Media shed 2 cent to €2.61 with dealers suggesting some weakness ahead of the launch of the Daily Mail in Ireland next week.