Dealers reported an active day yesterday as the ISEQ climbed to yet another record in the afterglow of positive EMU indications from our nearest EU neighbour and steady European trading.

The run made by the Kerry Group on Monday continued, in line with gains made by the banks and CRH, in what was described as "a lot of money looking for a home".

The speculation over Britain's early EMU entry has not dampened, injecting a general air of optimism all round, and also pushing the FTSE to a new record. At home it has eased currency worries and released pent up demand.

Kerry consolidated Monday's 800p high with a new record of 825p, while CRH notched up a further 13p to go to 783p "in good volume" and accompanied by announcement of acquisitions in the US. Bank of Ireland was also buoyed up and added another 13p to its price, going to 858p, a gain of 1.5 per cent.

AIB partly recovered from its slip the previous day by putting 4p on to its price, to close at 607p after eight deals. Anglo Irish Bank also gained, going up 1p to 106p. Other financials also traded well, with Irish Permanent closing 10p up at 650p and Abbey gaining 5p to 245p. But Irish Life failed to hold on to a gain on the day's opening of 362p and slipped back in profit-taking to 360p after five deals. Among the other main markers, Smurfit, with seven deals, made a gain of 2p to 230p, Greencore, which recently gained on speculation of more acquisitions later this year, was also up 2p to 325p after six deals, and Clondalkin was up 10p to 610p, building on Monday's 10p rise. Ryanair gained 25p to close at 395p while Golden Vale held on to Monday's 79p late deal.

Other companies to make gains were DCC, up 10p to 430p, IWP, up 10p to 320p, and Northern Ireland Electricity, up 9p to 538p.

Mr Hugh Hamilton, a director of Independent Newspapers, announced the purchase of 1,818 shares of his company, increasing his share to 3,000. His wife, Mrs Clare Hamilton, holds 30,491 shares.