MARKET REPORT: Bank of Ireland led a gain of 1.8 per cent on the Dublin market yesterday, with the bank's upbeat pre-close trading statement bringing comfort to jittery investors. The financials as a whole ended almost 3 per cent ahead, with takeover rumours on Irish Life & Permanent also lifting the sector.

Settlement Day: March 30th

Bank of Ireland closed at €10.59, up 29 cents on volume of some 4.5 million shares.

AIB gained on the back of its competitor's trading update, closing 20 cents higher at €12.15. Anglo Irish Bank was also a winner as it rose 33 cents to €12.83.

Irish Life & Permanent was the best-performing financial of the day, climbing 70 cents to €13.55. Dealers said the move stemmed from talk that HBOS could be interested in an Irish acquisition, although sources close to the UK bank scotched the speculation.

Elsewhere, Independent News & Media recovered some of its post-results losses as management began an investor roadshow. Shares rose two cents to close at €1.97.

Eircom added two cents to finish at €1.48 as volume continued to fall back from flotation levels. Just 213,000 shares changed hands.

DCC rose 30 cents to €12.20 on reasonable volume. Dealers said most business had come at €12.

McInerney clawed back some of the losses posted in the previous session to close at €4.60, up five cents.

Also winning back some of its recent losses was Ryanair, which closed 17 cents higher at €4.57.

Some 2.9 million shares traded in United Drug at €2.50. It closed at €2.58, up four cents.

Grafton was solid as it climbed 13 cents to €5.90. NCB has an end-of-2004 price target of €6.60 on the stock.

Kingspan was also firm, adding 16 cents to finish at €4.13. Heiton rose by 10 cents to €4.70.

Greencore recovered from a poor performance on Wednesday. Shares in the food firm closed at €3.10, up 10 cents. Kerry did well too, gaining 35 cents to close at €15.20.