Market report: A series of trading statements was not enough to get buyers or sellers to make a call on the Irish market yesterday.

Despite the newsflow, there was a muted reaction from the market in terms of volumes, with the Iseq eventually closing the day marginally stronger as it added almost 32 points, or 0.5 per cent, to 6,424.17.

In a trading update, AIB reiterated that it expects low single-digit percentage earnings growth for the year. Its share price responded well to the news as it tacked on 11 cent to €13.71, although volumes were very light with just 900,000 shares changing hands. Other financials put in a good day, with Anglo up 10 cent to €9.50, Irish Life Permanent tacking on 15 cent to €11.29 and FBD up 44 cent to €26.99. However, Bank of Ireland shed two cent to €8.74.

A number of construction companies issued trading statements that contained little to surprise

The strong performer of the day was building materials company Kingspan. In its trading update at its annual general meeting yesterday, it repeated that slowing growth in Ireland and the UK would lead to a drop in earnings. However, the stock, weak recently, enjoyed a good day as it surged ahead by more than 5 per cent, adding 40 cent to close at €7.85.

McInerney warned of conditions in Ireland and the UK and predicted a first-half loss for the year. Nevertheless, its stock closed up more than 3 per cent at €0.94.

Paddy Power's shares also responded to a positive trading statement and advanced strongly during the day to close 83 cent stronger at €24.25.

Aer Lingus, which also warned that fuel, currency and competition would have an impact on its performance, managed to finish the day 1 per cent stronger.

In terms of volume, Fyffes bucked the trend, with about four million shares traded as it slipped nearly 3 per cent to €0.83.

Settlement date: May 20th