THE recovery on world stock markets after the hiatus of last Friday found its way to trading in Dublin and the market closed up on the day although it only regained about half of Friday's losses. There were good gains across the board but Smurfit, in particular, came in for sustained buying especially on the London market.

Turnover figures show that almost 2.5 million Smurfit shares traded in London - and this figure excludes the double counting of the buying and selling sides - and the share closed up 4 1/4p on 170 1/4p. In Dublin, Smurfit closed 3 1/2p higher on 168 1/2p. Elsewhere among the leaders, CRH gained 3p to 593p, AIB was 4 1/2p higher on 386 1/2p while Bank of Ireland gained 6p to 512p.

Among second liners, Hibernian did not trade yesterday, but turnover figures for last Friday show that £13.6 million worth of Hibernian shares traded. When account is taken of double counting and assuming the current market price for the shares, this suggests that close on 2.5 million shares nearly 5 per cent of all Hibernian's issued shares changed hands.

Fyffes gained 1 1/2p to 108 1/2p, Greencore drifted 2p lower to 361p but Irish Life and Irish Permanent both made progress, with Irish Life up 2 1/4p to 272 1/4p and Irish Permanent up 5p on 485p.

Kingspan did not trade from its overnight 515p as the market waits for news of the Ward acquisition and an expected rights issue. Unidare edged 5p higher to 180p after results that were no worse than expected.

Gilts were firmer and recovered some of the ground lost after last week's heavy selling of the longer end of the market. Five year gilts were 57p higher on a 5.99 per cent yield, 10s were 85p higher on a 6.62 per cent yield while the 20 year benchmark gilt dealt up £1.20 and closed on a yield of 6.86 per cent.