Market report: Greencore was the star performer on the Irish stock market yesterday, gaining more than 5 per cent.

Shares in the food group closed 19 cent, or 5.4 per cent, higher at €3.73. Dealers said they benefited from the upbeat comments chief executive David Dilger delivered in the US last week.

Mr Dilger told investors at a Davy conference in New York that the company would report high single-digit earnings growth this year and that he sees further potential for its convenience foods business over the next five to 10 years.

He also said the company's property in Carlow, currently valued at around €40 million, could attract multiples of this figure if sold, given its development potential.

Elan was another strong performer yesterday as the overall Iseq index closed 0.4 per cent higher.

Shares in the pharmaceutical group added 36 cent, or 3 per cent, to €12.02 in Dublin amid growing expectations that its multiple sclerosis treatment, Tysabri, could be granted approval in March for a return to the market.

Dealers also said there was optimism about progress in the company's Alzheimer's programme.

Kingspan gained 17 cent, or 1.6 per cent, to €11.09 but Grafton, which is widely expected to issue a trading update this week, shed 13 cent to €9.12 as a trading update from UK paving group Marshalls pointed to continued tough conditions in the UK DIY market.

Eircom settled down after last week's rumour-driven flurry, finishing the day unchanged at €2.05.

In the banking sector, Irish Life & Permanent had a good day, adding 55 cent, or 3.3 per cent, to €17.32 while Anglo Irish Bank also fared well, gaining 30 cent, or 2.3 per cent, to close at €13.25.

Among the smaller shares, IFG was up 10 cent, or 7 per cent, at €1.50 amid reports that it plans to go into wealth management.

Settlement Day: January 12th