Despite a series of trading statements, there was a muted reaction from the Dublin market in terms of volumes. The Iseq was marginally weaker at 4.30pm yesterday, down just 2 points to 6,390 with volumes light across the board.
A positive trading statement from Paddy Power saw its share price advance 83 cents to €24.25 with more than 200,000 shares traded.
In its trading update, AIB retained its guidance that it expects low single-digit percentage growth in earnings for the whole of 2008. Its share price responded well to the news as it tacked on 11 cents to €13.71, although volumes were very light with just 900,000 shares changing hands.
Elsewhere, a number of construction companies issued trading statements that contained little to surprise. Kingspan repeated that slowing growth in Ireland and the UK would lead to a drop in earnings. Its share price, which had been weak recently, finished strongly, picking up 40 cents or around 5 per cent to €7.85.
McInerney, which warned it was facing challenging conditions in the UK and Ireland was nearly 2 per cent stronger at €0.93.
In Europe, stocks advanced for a second day after a report showed the region's economy expanded more than forecast in the first quarter and rising oil prices boosted energy shares.
The UK's FTSE100 added 0.6 per cent, while Germany's DAX and France's CAC40 were little changed.