Ryanair among winners on mixed day of trading

Market Report: The Iseq ended slightly higher last night, supported by some strong moves among smaller stocks. Performances were mixed higher up the board, although Ryanair had a strong day at the top. Shares in the airline, which presented at an aviation conference organised by Davy in New York on Thursday, climbed by 15 cent to €6.21.

CRH also had a reasonable day, rising 20 cent to €20.85 on good volume. Dealers reported good demand from both retail and institutional investors.

Eircom was busy again, as it slipped back by two cent to €1.94 as four million shares held by the company employee share ownership trust (ESOT) traded late in the session. The stock has been particularly active over the past week, mostly because ESOT shares have been selling.

The banks had a neutral enough day, with losses in AIB cancelled out by gains in Bank of Ireland. Bank of Ireland rose by 11 cent to €12.68, as investors shrugged off news of a €15 million overcharging problem. AIB closed at €16.30, down seven cent. Anglo Irish fell by four cent to €19.85.

Irish Life & Permanent maintained its form of earlier in the week, adding seven cent to reach €13.97 after touching a high of €14.04. C&C was active, with about 2.7 million shares traded. The drinks group finished at €3.28, up four cent.

United Drug also notched up good volume, with about one million shares traded. The stock rose by 10 cent to €3.68.

It was also a good day for Paddy Power, with the bookmaker adding 30 cent to close at €14.10 amid considerable demand. Independent News & Media provided another positive driver for the index as it rose by two cent to €2.56.

Grafton notched up further gains, rising by six cent to €9.35. The stock has been in solid form all week, winning back ground lost during a period of post-results weakness.

IFG added two cent to end the session at 97 cent. In London, Tullow did well by climbing to 192p, up 3.25p on the day.

Settlement Day: April 13th