Dublin Report: The Irish Stock Exchange continued to advance fractionally yesterday in reasonable volumes for the time of year.
Banks led the way, particularly Bank of Ireland, which was 17 cent or 1.4 per cent stronger on €12.15 at the close amid sustained buyer interest.
Anglo Irish Bank also put in a strong performance, climbing 40 cent or 2.3 per cent to €17.80.
Allied Irish Banks and Irish Life & Permanent were among the few losers in the Dublin market yesterday. AIB slipped 12 cent to €14.78, while Irish Life & Permanent, which issues a trading statement this morning, gave up five cent to end the session on €13.55.
Ryanair advanced solidly as investors continued to bet that oil would not regain year highs, despite a surge in the price of crude yesterday. The airline's stock was 12 cents firmer on €5.47, with close to 2.4 million shares changing hands.
Waterford Wedgwood saw its shares slip again as it announced the details of its five-for-three rights issue, which will dilute the holdings of those investors who choose not to participate.
The stock shed almost a cent to eight cent in volumes that were strong, though lighter than on Tuesday when an e.g.m. sanctioned a waiver that would allow Sir Anthony O'Reilly and Mr Peter Goulandris to increase their holding significantly as underwriters of the rights issue without triggering a requirement to bid for the whole company.
Another O'Reilly company, Independent News & Media, was also in demand. More than six million shares were traded, making it the busiest stock of the session, although it closed unchanged on €2.28.
CRH opened strongly, again defying dollar weakness. It hit €19.93, up 18 cent at best, before retreating slightly to close on €19.83. Eircom climbed three cent to €1.70, while Jurys Doyle attracted buyers following upbeat monthly statistics for the Irish and German operations. It closed on €12.30, up 30 cent.
