Market Report: Dublin's Iseq ended the week at a record high yesterday, helped by upward moves from most of its main constituents and a note from Davy economist Robbie Kelleher that set a target for the index of 8,500 in 2006. This compares with yesterday's close of 7,254.89.

Elan was among the biggest movers, rising by more than 8 per cent amid further speculation on the expected return to the market of the group's multiple sclerosis drug Tysabri. The shares, which jumped 14 per cent in the US overnight on Thursday, rose 87 cent, to end the day at €11.69.

Paddy Power also had a good day, jumping almost 4 per cent to close up 45 cent at €12.15.

Elsewhere, the financials were all among the positive movers, though Irish Life & Permanent only recovered marginally from the setback it suffered on Thursday after a large stock sale put pressure on the price. The shares added one cent to close at €16.43.

AIB was in demand, with more than four million shares trading in Dublin. The stock ended the day up 10 cent at €18. Bank of Ireland also had a good day, although volumes were lighter. Overall, the stock added 20 cent to close at €13.55. Anglo Irish Bank also fared well, rising nine cent, to end the week at €12.27.

Building materials group CRH continued to build on the gains it made on Thursday, rising a further five cent, to close at €24.15. For a stock that only yesterday hit the €24 mark, it is trading comfortably at this price, one dealer noted.

Elsewhere, Ryanair ended the day up 22 cent, at €7.97, continuing the rising trend seen during the week.

McInerney was also a winner, adding 3.2 per cent, to end the day at €10.37 after it appeared on the list of 2006 stock picks of Goodbody Stockbrokers.

Insurance group FBD was one of the few negative movers, reversing the surge it made on Thursday, amid speculation that someone was seeking to build up a stake in the group. The stock fell 45 cent to close at €36.15.