Market Report: The Irish market was flat yesterday, with mixed demand for its leading members as a lack of stock-specific news failed to provide any particular momentum.

There was no clear direction among the financials, with limited demand for AIB, the star of Wednesday's market. Volume was low - not even reaching one million - as the stock ended down 10 cent, or 0.5 per cent, at €18.60. Anglo Irish Bank ended unchanged at €13.05, with just under 1.9 million shares changing hands. Bank of Ireland was also steady, closing unchanged at €14.58, though demand was slightly stronger with 2.3 million shares in action.

Eircom was also busy, with almost 11 million shares changing hands, though it too ended the day as it started on €2.16.

Elsewhere, C&C had a good session as the drinks and snacks maker moved upwards in line with its fellow beverage groups. One dealer said that, while there was no specific news relating to the stock, it was continuing to gain momentum from the positive take up of its Magners cider in the UK and a bullish note issued by Deutsche Bank earlier in the week. The stock was up 19 cent, or 3.2 per cent, at €6.08.

Another gainer was pharmaceutical group Elan, which rose five cent, or 0.4 per cent, to €11.70. Dealers attributed the gains to the positive reception given to phase one data of its latest Alzheimer's drug announced at a conference in Geneva yesterday.

Volumes were also decent in Independent News & Media, which saw just under 5.3 million shares change hands. Speculation again circulated that Denis O'Brien was behind some of the buying. The stock failed to move on the back of the increased interest though, and closed unchanged at €2.50.

Ryanair was also in focus, slipping three cent, or 0.4 per cent, to €7 - a decline attributed in part to British Airways' announcement it was to cut the price of its short-haul flights by as much 50 per cent and the continued increase in oil prices.