Irish share prices came off their best levels after the mysterious crash of an airliner in the Black Sea, but still closed almost 3 per cent higher on the day.

The market has risen almost 11 per cent since its September 21st low, but further gains will depend on international markets and may be selective, dealers said.

The heaviest trading was once again in Bank of Ireland where more than 3.8 million shares were traded as the stock hit a high of €8.75 before closing 48 cents higher on €8.55. AIB gained 72 cents to €10.40 in volume of 1.9 million shares, while Irish Life was 11 cents higher on €10.05.

Among the industrials, CRH - which many in the market believe has been heavily oversold - at one stage traded as high as €17.50 before ending 83 cents higher on €17.18.

Elan was marginally easier in Dublin trading, while Smurfit traded heavily and closed seven cents firmer on €2.00. After an early surge to €9.70 and a close of €9.66, Ryanair was left offered on €9.30, as investors reacted negatively to the possibility that the Black Sea crash may have been due to terrorism.

Kerry was 27 cents higher on €13.75. The group disclosed that it would be issuing 11.47 million new shares to Golden Vale shareholders, which would increase Kerry's shares in issue to almost 184 million shares and its market capitalisation to more than €2.5 billion.

Kingspan continued its repurchase programme and bought back another 250,000 shares at €2.45 each.

Technology shares rebounded strongly, with the largest gains being notched up by Parthus, Riverdeep, SmartForce and Iona - albeit from low levels.