The Dublin market is marginally ahead this afternoon after trading updates from market heavyweights CRH and Anglo Irish.
The Iseq was trading ahead 31 points or 0.48 per cent at 6,421 at 12.40pm.
A positive response to half-year results from Anglo Irish Bank has seen its shares rise by more than 5 per cent to €9.65 so far today, with over 8 million shares traded in Dublin and London.
Analysts said the results had been very well received with particular attention being paid to the strength of new lending growth of over €6 billion and strong liquidity.
Anglo reported a 17 per cent rise in underlying pre-tax profits to €647 million for the fiscal half ending March 31st. It also said net income increased to €548 million, or 72 cents a share, compared with €462 million, or 62.9 cents, a year earlier.
The response to the CRH statement was less positive after it admitted it would struggle to generate growth this year due to weakness in a number of its key markets. At 12.40 pm its shares were off just over 1 per cent at €23.75.
Another stock under pressure today is Ryanair, which is trading down over 2.50 per cent due to the combined impacts of oil breaking through the $122-a-barrell level and results from fellow low-cost carrier easyjet, which revealed a significant hedging against oil price rises.
European shares added to their gains on Wednesday, hitting session highs by mid-morning as banks and some insurers reversed earlier losses.
The FTSEurofirst 300 index of top European shares was up 0.52 per cent at 1,358.32 points, just shy of the session high of 1,358.47.
