DUBLIN MARKET: After breaching the 6,000 level for the first time in more than three years last Friday, the Irish stock market continued to storm ahead yesterday, reports Jane O'Sullivan.
It outperformed leading overseas market to close almost 88 points, or nearly 1.5 per cent higher, at 6,115.78, driven by strong performances from Bank of Ireland and Elan in particular.
Upgrades in the wake of last week's half-year figures drove Bank of Ireland shares up by a further 37 cent, or more than 3 per cent, to €11.73.
The rest of the banking sector also logged gains, albeit more modest. AIB added nine cent to €14.45 while Irish Life & Permanent gained 10 cent to €13.70 as investors awaited news from the company today on the impact of new accounting standards on its results next year.
Anglo Irish Bank finished 20 cent higher at €16.20 ahead of the release of full-year results next week.
Elan remained strong, adding €1, or more than 4 per cent, to close €23.80 in Dublin as investors await news from the US Food and Drug Administration on Antegren. In New York, the main market for the stock, it held above the $30 level breached on Friday.
Among secondline stocks, DCC had a good day, adding 35 cent or more than 2 per cent to €16.35.
Independent News & Media was lifted by good circulation figures for its British broadsheets and good launch figures for the New Zealand Herald. It edged up by three cent to €2.29.
Irish Continental Group added 22 cent or 2 per cent to €11.20, helped by acquisition activity in its sector.
Other movers included Grafton Group, which added 15 cent or 2 per cent to €7.57 and Kerry Group, which gained 25 cent to €18.20.
Dealers said Ryanair was one of the few stocks left behind, closing three cent lower at €5.00 as it took a breather after its recent strong run.
In London, Vodafone was a solid performer, closing at 142.75p sterling, up 0.7 per cent.Dublin ReportSettlement Day: November 18th'
