Boosted by solid performances on most European markets and ignoring early weakness in New York, the Dublin stock market notched up its best gains for some months, although the 2 per cent-plus rise in the index was not based on any sizeable trading.
Fund managers have begun winding down and an almost total absence of offers is largely responsible for the market being marked up.
Nobody wants to sell AIB shares and the absence of sellers meant that the share soared 66p to £11.16. At this level, AIB is within striking level of its all-time high of £11.55 before the year ends.
Other financial shares were also firmer with Bank of Ireland up 20p on £13.80 while First Active was 8p higher on £3.30.
The merger partners were quiet with Irish Permanent up 10p to 970p while Irish Life was unchanged on 600p, both in negligible trading.
Industrials were less active in price terms but CRH was up almost 35p to a new £11.77 high, with the market paying little attention to the prospects of the proposed expansion to the Limerick cement plant. James Crean fell 4p to a new low of 78p as the market waits.. and waits.. for news of the proposed de-merger of the print and packaging operations.
Elsewhere, Smurfit was marginally weaker on 113p, Greencore gained 20p to 300p, IWP was up 4p on 169p after the buying by chairman Mr Joe Moran while IAWS was 10p higher on 280p.
On Nasdaq, the best performer of the day among the Irish stocks was Iona which was trading $2 1/2 higher on $34 1/4 at the Irish close, boosted by a link-up with Platinum Technology. CBT suffered some modest profit-taking after its recent sharp rise and was down almost $1 on $13 7/8 while EWsat was up $1 on $35. Elan regained some recent lost ground and was $7/8 higher on $61.
