Dublin Report: It was a quiet day on the Dublin stock market which saw share prices edge higher on a day when most markets remained weak.

The banks enjoyed a good run. The financial institutions strengthened in the morning but most lost ground towards the end of the session. Bank of Ireland performed strongly with the stock gaining 25 cents during the day to close at €12.05. AIB was unable to hold onto its gains with the shares closing 13 cents lower at €13. Anglo Irish Bank also lost ground with the shares closing at €5.88, down 10 cents. First Active was unchanged at €4.75 while Irish Life & Permanent was five cents weaker at €12.20.

In a report yesterday, Davy Stockbrokers noted that the Irish banks had sharply outperformed their European peers over the past couple of weeks and were now trading at a significant premium. The broker suggests that while the two big banks, Bank of Ireland and AIB, have both benefited from the Irish economic boom, they have yet to show any hangover from the party and the outlook remains positive.

CRH managed to make some headway with the cement group adding 45 cents to close at €15.10. Another stock attracting demand was Galen with good levels of activity reported in the stock in both Dublin and London. The shares gained 23 cents to €6.05 in Dublin.

Most shares lost ground during the day. DCC was eight cents weaker at €10.05, Fyffes dropped two cents to €1.31, Greencore lost 10 cents to close at €2.60. Other stocks which closed lower were Independent News & Media, down three cents to €1.60, Irish Continental Group, down 10 cents at €6.90 and Ryanair was 25 cents weaker falling to €5.80.