Iseq: 2,500.35 (+102.02) Settlement date: May 6th

THE IRISH market enjoyed a small rally yesterday, driven primarily by better-than-expected data out in the US.

Brokers reported that the market is looking for good news and "buying up whenever it can".

There was very little red ink on the Irish market yesterday, with most stocks swept upwards by the wave of positive sentiment from the US, as opposed to any stock-specific news.

As its largest component, CRH once again had the greatest impact on the index, and gained more than 6 per cent on good volume to finish at €18.57.

The banks clawed back some of the ground lost on Tuesday, with AIB and Bank of Ireland both adding 5 cent to close at 81 cent and 66 cent respectively.

Irish airlines succeeded in shrugging off the spectre of swine flu, for the day at least.

Both Aer Lingus and Ryanair traded up more than 5 per cent to finish at 59 cent and €3.30 respectively.

Food stocks were also lifted higher.

Bakery group Aryzta staged a small recovery after its fall on Tuesday, closing up 15 cent on the day at €20.85.

Kerry Group jumped 75 cent to €15.10.

Building merchants and DIY group Grafton was one of the few names to lose ground.

Following its announcement yesterday morning that turnover fell by 32 per cent to €470 million in the first three months of 2009, the stock gradually spiralled downwards to close at €2.54, a fall of 3.42 per cent.

Irish Continental Group also suffered yesterday, falling sharply after the Moonduster consortium announced it was not proceeding with an offer for the ferry operator.

By the close of the session it had plunged almost 24 per cent to €10.10.