MARKET REPORT: Ryanair was again the focus of investor attention in what was a patchy day for the Irish Stock Exchange.

Shares in the low-cost airline, whose executives are on the road reassuring investors following the price collapse on Wednesday, rose as high as €5.15 before giving up much of that to close just two cents stronger for the second day running at €4.87.

The financial sector fell in line with European peers, giving up almost 1 per cent on the day. Bank of Ireland continued its recent trend, giving up close to another 1.5 per cent. The shares closed at €11.38, down 17 cents on the day in reasonable volume of more than 3.5 million shares.

It also announced that it had bought back a further 100,000 shares at €11.42½ on Thursday.

AIB had a better day than its rival, shedding just four cents to €13.54. There were a couple of small sellers in Irish Life & Permanent, which pulled back 20 cents to €13.60, the same price Anglo Irish Bank closed on after a fall of 15 cents in light trade.

Independent News & Media had a busy day following a favourable broker note.

The shares rose six cents to €2.12. More than 5.3 million shares changed hands, making the group the busiest in the market after Ryanair.

Elsewhere, industrial heavyweight CRH had a rollercoaster day, rising as high as €17.25 from the overnight close of €16.90 in early business. The shares then suffered a switch in sentiment, giving up all their gains before rallying again to close officially at €16.95. In late trade, however, it again surged to €17.13.

Kingspan was one of the stronger performers in the session, adding 18 cents to €4.74 DCC, which announced substantial management changes yesterday, was 15 cents off at €12.10.

Shares in Gresham Hotels were three cents firmer after the Irish Takeover Panel said it would grant a consortium front ed by Deloitte & Touche another week to make a firm bid for the group. The shares closed at €1.23.