Market report: The Irish market closed modestly higher again yesterday as financial shares delivered another solid performance

Dealers said the sector was attracting interest ahead of AIB's full-year results next week. The bank added 19 cent, or 1.2 per cent, to €16.10.

The market also welcomed the announcement of the sale and leaseback of its new Bankcentre development in Ballsbridge as a progressive move.

Rival Bank of Ireland also fared well, adding 21 cent to €12.96, having traded as high as €13.00 at one stage.

Anglo Irish Bank gained 13 cent to €20.23, while Irish Life & Permanent added a more modest five cent to €14.60.

Eircom continued to enjoy good volume, with more than eight million shares traded in Dublin, but the stock gave up some of its recent gains to close six cent, or 2.7 per cent, lower at €2.14.

A number of other stocks also lost ground on a quiet news day. Greencore shed eight cent, or 2.4 per cent, to €3.31.

Its competitor in the food sector, IAWS, was down 14 cent, or 1.1 per cent, to €12.46.

Independent News & Media lost three cent to €2.3. United Drug was down eight cent, or 2.2 per cent, to €3.60 ahead of its annual meeting later today.

In contrast, C&C had a good day, adding seven cent, or 2.2 per cent, to €3.30.

Among the smaller stocks, South Wharf lost 35 cent, or nearly 12 per cent of its value, to €2.65, as the market reacted negatively to news that it had lost its High Court case against Dublin Port over the use of its Ringsend facilities.

In the exploration sector, Tullow added four cent in Dublin to €2.50. In London, it closed 25 pence higher, at 170.25 pence sterling, as NCB issued a "buy" recommendation on the stock, setting a share price target of 200 pence.

Iona had a mixed day, losing 45 cent or 10 per cent in Dublin to €3.85, but it was up by nearly 5 per cent at $5.19 in afternoon trade in New York.

Settlement Day: February 18th