Market Report:The Irish stock market continued to advance yesterday, despite a weaker showing on overseas markets as US economic data disappointed.

The Iseq shrugged off Wall Street's weakness, however, to close 0.8 per cent higher, helped by a good showing from a handful of leading shares.

Ryanair, which will release second-quarter results in early November, was among the more active stocks on the day, with more than eight million shares traded in Dublin, as it gained 15 cent, or 2.2 per cent, to finish at €7.00.

Dealers said that it was helped by a 5 per cent surge in the share price of its main low-cost rival, EasyJet, amid continued speculation about the fate of the British airline after Icelandic investment group FL acquired Sterling, the Nordic low-cost airline. FL, which owns a 13 per cent stake in EasyJet, has described its shareholding as a financial investment, but takeover rumours around the group persist.

AIB was also in demand, with more than 2.4 million shares traded in Dublin, while 4.8 million changed hands in London as the stock added 10 cent to €16.95.

Bank of Ireland also moved ahead, gaining 29 cent, or 2.3 per cent, to €12.90, while Anglo Irish Bank finished the day six cent firmer at €11.10.

Dealers reported good interest in Eircom, which is seen as a safe, defensive play amid the current uncertainty, as it edged up by three cent, or 1.6 per cent, to €1.94.

Drink and snacks group C&C was another of yesterday's gainers on the Iseq, adding 16 cent or 3.2 per cent, to €5.14. Other features yesterday included fruit importer Fyffes, which gained six cent, or 2.5 per cent to €2.46, as more than 1.35 million shares traded.

Kingspan also fared well, gaining 16 cent or nearly 1.7 per cent, to €9.73.

Meanwhile, the Iseq Exchange Traded Fund (ETF) finished the day 14 cent, or 1 per cent, higher at €13.08.

Settlement Day: October 28th