Market Report

The market ended slightly higher in Dublin on a day of mixed performances by its constituents. The index finished up 26.5 points or 0.59 per cent on 4,499.36.

Brokers said there was good demand for the mid- and small-capitalisation stocks, in particular DCC, First Active and Glanbia, the latter ahead of results next week. DCC continued its recent recovery and rose 45 cents on the day to finish at €11.15, its best level since early last month. Glanbia was ahead three cents on €1.58. First Active ended up 10 cents on €4.90.

Among the financials, it was a day of mixed fortunes for the two leading banks. Bank of Ireland started the day weak but gained strength as the session wore on to close up six cents on €12.20. AIB, on the other hand, suffered a decline in sentiment after a solid start and hit €13.25 before coming back slightly to end off 15 cents at €13.40. Brokers said there was a view in the market that it might be time to take some profits from the recent strong run of the two leading banks and switch into Irish Life & Permanent. The latter had another strong performance in good volumes rising 50 cents to close at €13.55.

There was some profit-taking towards the end of the session in drug group Galen, which has had a strong run of late. The shares were up five cents on the day at €7.15 but off their session high of €7.35. United Drug has also recovered in recent weeks and was ahead again yesterday at €13.50 up 30 cents. Clinical trials group Icon raced ahead €1.05 to €20.80. Elsewhere, CRH weakened slightly, slipping 11 cents to €15.30, Elan was up 60 cents at €2.75 on the back of a strong run in New York on Wednesday night.