Iseq:3,005.04 (+2.73) Settlement date:May 18th

INSULATION GROUP Kingspan proved the star performer on the Irish Stock Exchange yesterday as investors continued to react positively to its recent trading update.

Kingspan pushed ahead for a second day after saying in an interim management statement that sales in the first four months of 2011 were 33 per cent ahead year-on-year. The stock rose to €7.23 at one point during yesterday’s session before settling back to close 20 cent ahead at €7.10.

“It was just a good response to topline growth delivered,” a Dublin broker commented.

“The structural growth story is starting to come to the fore again. I’ve seen good interest in the name on reasonable volume.”

Kerry Group also continued to find favour, with its share price hitting an all-time high of €30.14 during yesterday’s session. However, it slipped towards the close to finish 9 cent off at €29.80. The stock has received a strong response from the market since its successful share placing on Wednesday.

Ryanair, which has seen several days of active trading, added 1.6 cent yesterday to close at €3.56. According to one trader, the airline is attracting “a fair bit of interest” as investors position themselves ahead of its results this month. “Summer booking trends look quite healthy and no surprises are expected in the forecast,” he said.

Elsewhere, Independent News Media closed off just a touch at 59 cent after releasing an interim management statement that held few surprises. One trader noted that there was nothing in the update to “set the market alight”, and the stock slipped by a cent.

CRH closed 7 cent down at €16.08 after a Finnish peer released slightly disappointing results.

Overall the Irish market was little changed, closing 2.73 points up at 3,005.04.