The market ended the day 1 per cent stronger yesterday, reflecting the overnight US performance. Newsflow was relatively thin, with the exception of Greencore, which held its annual general meeting in Dublin.

While the event was dominated by talk of sugar, investors took some encouragement from positive noises about the firm's consumer foods business. Shares climbed by five cent to €3.45.

Eircom continued to attract significant attention, with six million shares traded in Dublin and 8.5 million in London. The stock closed 2.09 cent, or three cent, higher at €2.12. Babcock & Brown, the Australian finance house, has yet to declare its intentions towards the company but market insiders say any declaration of large trading last Friday would need to be made by today.

CRH did well, shrugging off the legal action it faces over its 26.3 per cent purchase of Spanish building materials group Uniland. Shares rose by 11 cent to €26.61, with dealers attributing the rise to strong results from US peer Martin Marietta.

The banks all moved ahead, with AIB gaining 17 cent to close at €18.37 and Bank of Ireland rising by 21 cent to €14. 13. Anglo Irish added eight cent to finish at €12.93. Irish Life & Permanent climbed by 10 to €17.25 on low volume.

Ryanair was firm in the afternoon after its ADRs picked up in the US. Shares closed at €7.84, up 27 cent, in Dublin.

Fyffes was busy, with about three million shares traded. The fruit firm was unchanged at €2.19 by the close.

Elan gained ground after saying it had sold the European rights to its Prialt drug, while maintaining the rights in the US. Shares added 30 cent to reach €12.20.

A few stocks were on the losing side at the end, including Glanbia, which shed three cent to close at €2.44, and Iona, which was down 3 per cent at €3.10.

Kingspan fell back by one cent to €11.77.