Iseq:2,873.07 (+6.38) Settlement date:November 5th

AIB AND Bank of Ireland both finished down on what was a “fairly erratic” day for the banks yesterday.

While the British banking sector traded relatively well in the afternoon, Irish banks saw little of this uplift in what one broker described as another disappointing day for the main players.

AIBfinished at €1.675, down by more than 10.5 per cent, while Bank of Irelandfinished at €1.60, recovering slightly from an earlier low of €1.58, a drop of almost 6 per cent.

The main banks' performance was in stark contrast to Irish Life & Permanentwhich managed to record a gain of 6.3 per cent over the session to end the day at €5.24.

Elsewhere, explorer Dragon Oilsurged by 6.8 per cent to €4.95 after Emirates National Oil Company agreed to buy the shares it doesn't already own in the company. The deal had been expected for some time, the question on one broker's lips yesterday being whether or not there is any upside left.

Low-cost airline Ryanairposted an 80 per cent rise in first-half profits earlier in the day but still fell short of the expectations of some analysts. That saw its stock fare relatively badly in the morning, hitting a low of €2.68 at one point but rallying as the session continued to close on €2.894, down 1.76 per cent, with one trader citing overseas investment as having played a role.

Index heavyweight CRHwas another stock to take a hit in early trading before recovering following positive construction data from the US. It ended the day on €17.16, almost 3.1 per cent higher on the day.

The fact that building materials group Graftonfinished down was described as "baffling" by one market trader who noted that, in the UK, Travis Perkins, which is usually closely compared with Grafton, finished up 4 per cent.