Market report: A strong performance from the leading financial shares helped the Irish stock market to a higher close yesterday as a good showing by banking stocks in the UK and Europe helped lift the sector in Dublin.
AIB was the most active, adding 33 cent or 1.7 per cent, to €19.47.
However, Bank of Ireland also gained ground, closing 18 cent or 1.2 per cent higher at €15.25, while Anglo Irish Bank firmed by 31 cent, or 2.3 per cent, to €13.70.
Building materials group CRH also had a good day, as investors reacted favourably to the company's post-results roadshow. The stock added 50 cent, or 1.8 per cent, to €27.75.
Elsewhere, the performance of Irish shares was more mixed. Despite reporting half-year results broadly in line with expectations, shares in IAWS gave up 10 cent to €14.15.
C&C was another underperformer on the day, losing six cent or 1 per cent, to €5.56 as was Ryanair, which shed eight cent to €7.67.
Shares in Eircom lost three cent, or 1.4 per cent, to €2.17 as it emerged that Babcock & Brown now holds 28.8 per cent of the company, just short of the 29.9 per cent level at which the investment fund would be obliged to launch an outright bid.
Dealers said volume was light in the stock as the absence of the Australians was felt in the market.
On the positive front, Paddy Power added 25 cent, or nearly 2 per cent, to €13.00 on the eve of Cheltenham and as management met investors in the wake of the recent results.
Greencore shrugged off a profit warning from British peer Northern Foods, to finish nine cent or 2.5 per cent higher at €3.72.
In the exploration sector, Tullow Oil added six cent or 1.3 per cent to €4.57 in Dublin as the company confirmed an oil find in a Ugandan exploration well.
In London, their main market, the shares finished 5.75p, or 1.9 per cent, higher at 317p.
