Dublin report: The Irish market powered ahead yesterday on what was generally a quiet day for news, outperforming its European rivals and closing at another record.
The heavyweights, namely CRH and the banks, contributed most to a rise of almost 1 per cent for the Iseq.
Bank of Ireland was the star performer, adding 43 cent, or 2.7 per cent, to close at €16.48, while the other banks followed suit.
AIB ended the day up 18 cent, at €21.86, while Anglo Irish Bank gained five cent to close at €14.40. Irish Life & Permanent, a stock that has recently lagged behind its peers, also put in a strong performance, rising 35 cent, or 1.8 per cent, to end the day at €19.90.
CRH put in a stellar performance, adding 38 cent, or 1.3 per cent, to close at €29.18, for once managing to outshine the rest of the building materials sector. However, one trader said he would not be surprised to see some profit-taking at these levels.
Greencore rose five cent, or 1.2 per cent, to €4.10 after the food group said it had submitted plans to build a €1.1 billion town centre on the edge of Carlow, creating 2,000 jobs. As many as 1.2 million shares changed hands.
However, things were not so good for the airlines, with Ryanair slipping 13 cent, or 1.3 per cent, to €9.72, and Aer Lingus ending the day down six cent, or 2.2 per cent, at €2.68.
Ryanair yesterday issued a letter to Aer Lingus shareholders urging them to accept its €2.80 a share offer for the former State airline and saying it will not be increasing the bid.
Dealers said Aer Lingus was likely to continue falling on the news.
Gains in the price of oil, which may have added to the airlines' woes, were positive for Tullow, which rose 16 cent, or 2.7 per cent, to close at €6.15.
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