The ISEQ outshone its European peers yesterday, with most larger stocks putting in a sound performance.

CRH led the pack when its trading statement came in ahead of market expectations. Shares in the company firmed well but fell victim to profit-takers in later trade, eventually closing two cents lower at €16.95.

The two main banks attracted substantial volume, with more than six million shares traded in both. Bank of Ireland was down four cents at €10.90 by the close, while AIB added one to finish at €12.75. Bank of Ireland said it had bought back 100,000 shares on Tuesday at an average price of €10.95 and looked to be back in the market yesterday.

Elan was in extremely fine form, as investors responded enthusiastically to positive drug development news. Shares in the firm climbed 55 cents to €5.95 on good volume and went on to post solid gains in the US.

Qualceram Shires was a surprise winner, with rumours of a possible reinstatement of the firm's dividend lifting shares by 25 cents to €1.50.

Ryanair did well after posting good passenger numbers for December, with a gain of 13 cents in place as it closed at €6.72.

Waterford Wedgwood also improved, hitting the 25 cent mark with a rise of two cents.

McInerney took a break from its recent gains by sticking at €4.85. Goodbody has upgraded the stock to "add". Fellow housebuilder Abbey was also unchanged, closing at €7.30 in advance of today's results.

Grafton, which will issue a trading statement this morning, rose 15 cents to €5.85 on expectations of positive news.

Greencore was once again busy, with 1.7 million shares traded as it fell one cent to €3.47.

In the same sector, Fyffes rose one cent to €1.71 on positive dollar-related sentiment. Goodbody suggested yesterday that the firm could draw benefits from a merger with Fresh DelMonte if it was so inclined.

CPL was one of the biggest percentage risers, with a gain of 10 cents bringing it to 70 cents.

Dublin Report

Settlement Day: January 12th