PROFIT-TAKING pulled the market back from its best levels after another excellent day's trading, with the market boosted by the sixth consecutive closing high in London and a steady if unspectacular opening session on Wall Street.
Financial shares dominated proceedings, with the Irish banks soaring on the back of strong gains in London by the British clearers. The value of Bank of Ireland rose above £3.5 billion as the share jumped 23p to 730p, while AIB had a less spectacular performance, rising 5 1/2p to 485p.
Irish Life was 5p higher on 345p, Irish Permanent gained 3p to 623p while Anglo Irish was 1 1/2p higher on 85 1/2p. Overall, the financial sector was up 2 per cent on the day.
Among the industrials, CRH was 4p higher on 678p - boosted in part by a bullish report on the group from Merrill Lynch. Smurfit was 1p firmer on 168p.
Among the second-liner, DCC was 5p firmer on 335p ahead of results next Monday, Irish Continental jumped 25p to 700p, while Kerry was 10p lower on 650p.
Among exploration stocks, Arcon was 1 1/4p higher on 47 3/4p while Ivernia closed up a half-penny on 100p sterling.
On the AIM market in London, Pan Andean fell further after the break-up of its joint venture with BHP and closed down 5p on a new low of 29p sterling.
Gilts made strong gains, especially at the long end of the market where an 85p rise in prices drove yields down to 6.75 per cent.
