THE Dublin market was extremely quiet yesterday, mainly because London and New York were closed. However, the Overall Index climbed slightly due to trading in Waterford Foods and Jefferson Smurfit.

Word that the talks between Waterford Foods and Avon more were back on, prompted interest in the stock, according to brokers. The two sides met yesterday (see story on page 18) and Avonmore offered a greatly improved package, described by analysts as being, very generous.

"A lot of private investors have been buying the stock ahead of the new offer as it looked like good value at current levels," said one dealer. Yesterday's activities pushed Waterford Foods up to 110p, up 12p on the day.

Smurfit gained 4p to end the day at 188p. Smurfit's US associate Jefferson Smurfit Corp reached its highest level since March 1995 last Friday and this helped the share price yesterday.

AIB rose 2p to 508p. Dealers said the double A rating it got from Moody's last week was continuing to help the share. Bank of Ireland didn't trade at all. Irish Permanent was unchanged at 645p. Irish Life was down 2p at 340p.

"A lot of people are holding out for the Norwich Union flotation," said one dealer. "There is considerable excitement about it."

The share price of DIY group Grafton rose 10p to finish at 960p. Traders said it was one of the second line stocks which British investors were tending to favour at the moment. CRH was down 3p at 657p while Heiton Holdings was down 4p at 126p.

Greencore was up 5p at 345p. "Greencore seems to be on the road to recovery and has got over its local difficulties," remarked one trader.

Golden Vale was unchanged at 67p.