DUBLIN REPORT: Iseq: 2,881.07 (+15.34) Settlement date: August 7th: AFTER A strong run of form recently, European markets slipped back a little yesterday, with the result that the Irish market – which advanced by half a per cent – outperformed its peers.

Irish financials came under pressure yesterday as investors weighed up the potential fallout from the Zoe Group debacle.

Allied Irish Banks (AIB), which has the most serious exposure to Liam Carroll’s property empire, fell 3.7 per cent to just below €1.72 in advance of the publication of its first-half results today.

Bank of Ireland took the biggest hit on the day, however, slipping almost 6 per cent from €2 to €1.88.

Irish Life Permanent, which had enjoyed a bounce on Monday, also retreated, losing almost 1 per cent to close below €3.60.

Although the financials weighed heavily on the Irish market yesterday, CRH held up the Iseq index and kept it in positive territory.

The Dublin-headquartered cement giant rose by more than 3 per cent to €18.22, lifted by results published by its peer Vulcan Materials, which were in line with expectations. However, volumes in the index heavyweight were very light.

Cider manufacturer CC was off about 2 per cent on the day at €2.04. However, brokers anticipate that the company’s investor roadshow, which gets under way tomorrow, will boost the stock.

Disappointing numbers, particularly on the retail side, published by UK bookmakers William Hill yesterday had a knock-on effect on Paddy Power. The stock fell more than 3 per cent – 55 cent – to close at €16.85.

Meanwhile, shares in Tullow Oil rose after the exploration company announced a new discovery of oil in Uganda. The stock rose 2.6 per cent – or 26p – to £10.21, hovering fairly close to its record intra-day high of £10.49.