Leading stocks consolidate gains

Market Report:Leading stocks yesterday followed Wednesday's welcome boost to the Dublin market by consolidating their gains.

The Iseq index of Irish shares added a further 45.66 points to close at 6,958.5, after a day that began very positively, particularly for the financials.

Anglo Irish Bank, one of the worst hit stocks in the past few months, closed at €11.12, up one cent or close to 1 per cent.

Volumes were particularly good, with 4.3 million shares trading in Dublin and a further 6.3 million changing hands in London.

AIB hit a high of €14.98 in the morning but closed 5 cent down at €14.70 on trades totalling 3.35 million shares in Dublin.

Bank of Ireland followed a similar pattern, reaching a high of €10.75 before fading during later trade. However, it closed 2 cent up at €10.65. Again volume was good with almost four million shares traded in Dublin.

Irish Life & Permanent added to Wednesday's gains and closed 18 cent up at €12.58 on volumes of 1.5 million units.

Outside the financials, building materials and DIY group, Grafton, was one of the day's biggest winners. It added 29 cent, almost 5 per cent, to close at €6.20. Volumes were double the stock's average at three million shares. In the last few months, the group has paid for investors' wariness of the building industry and its imminent exit from the MSCI index.

A big loser on the day was drinks group, C&C, which shed 24 cent or just over 6 per cent to close at €3.71. Independent News & Media dipped slightly, while food groups IAWS and Kerry were also down.