MARKET REPORT: The Irish stock market gained more than 1.5 per cent, supported by a strong performance from the leading stocks. Dealers said that if global stock markets could get through today's first-year anniversary of the September 11th attacks without too much damage, there could be "a relief rally".
Settlement Date: September 13th
Financial stocks attracted good interest yesterday with AIB closing 26 cents, or 2 per cent, higher at €12.83. Bank of Ireland also added 20 cents, or 1.8 per cent, to €11.30.
CRH turned in a good performance, closing 34 cents or 2.3 per cent firmer at €14.84, while Ryanair, which was hit by programme selling last week, clawed back lost ground to end 4 per cent higher at €5.85, a gain of 22 cents on the day.
Elsewhere, it was a fairly quiet day with trading volumes light.
Galen again made ground, advancing by 24 cents to €7.09 in the wake of last week's share buyback.
Kingspan gained 15 cents, or 8 per cent, to €2.05 in the wake of its first-half results. Although the company posted a 25 per cent drop in pre-tax profits, they were up by 5.5 per cent if the US operation is excluded.
Markets were also relieved that there were no further profit warnings. "They were a solid set of figures and the company confirmed its guidance for the rest of the year. It was a positive presentation," one dealer said.
A number of other second-line stocks fared less well. IAWS dropped by 29 cents to €7.71 ahead of next week's results, First Active was down 19 cents at €4.68 while IFG shed 19 cents to €0.70 after last week's first-half figures.
Trinity Biotech lost 63 cents to €1.05 in Dublin, although it was up on the Nasdaq.
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