Market Report - Dublin

After a quiet start to the day, investor interest in the Irish stock market picked up after lunchtime, driving the market through…

After a quiet start to the day, investor interest in the Irish stock market picked up after lunchtime, driving the market through the 5,100 level to a new all-time high of 5,105.36.

But the ISEQ index closed slightly below this level as activity tapered off ahead of what dealers said would be a long weekend as many traders opted to take Monday off and not return to their desks until Wednesday.

Overseas buyers continued to make their presence felt in the Irish market with most interest focusing on the leading financials, as well as CRH and Smurfit.

But weakness on Wall Street began to infect the Irish market late in the day, dragging some stocks off their better levels.

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Both the main banks made further gains through the day with AIB moving up 7p to 935p although it finally closed down a penny at 927p in a late sterling trade.

Bank of Ireland added 5p to £14.40 and Anglo Irish Bank gained 3p to 176p. However, Irish Life lost 5p to 560p towards the close and Irish Permanent slipped back 10p to close at £10.05.

Among industrial stocks, CRH reached a record high of £10.20, a gain of 15p on the day, while Smurfit consolidated around Thursday's closing levels, ending unchanged at 215p. Second-line activity was reasonably subdued but Dunloe, which confirmed it had gained control of Belfast-based property group Ewart, gained more than 5p to 26p in a late sterling deal.