DUBLIN: Iseq: 2,285.77 (+91.82) Settlement date: April 6th

THE IRISH stock market ignored negative economic data from the US to deliver a strong performance yesterday. By the close, the Iseq Overall Index was over 4 per cent ahead, making the Dublin market one of the strongest performers worldwide for the first time in many months.

The financials added over 14 per cent on the day, although that sub-index is still nursing losses of 95 per cent on this time last year.

Building materials group CRH, now the dominant force on the Dublin list, again drove the good news with traders reporting continuing interest from buyers in the wake of the company successfully concluding what was the largest corporate rights issue in the history of the State last month.

The stock added 7.23 per cent in trading yesterday to close on €17.30.

In the financial sector banks continued to regain ground despite the fallout from the decision of ratings agency Standard Poor’s to remove the AAA rating on Ireland’s sovereign debt.

AIBand Permanent TSBboth added 19 per cent to finish on 70 cent and €1.30 respectively. Bank of Irelandalso found favour, adding 11.54 per cent to close at 58 cent in decent volume.

FBDdipped 3.49 per cent by midday before bouncing back to hit €6 by the close – a rise of 2.6 per cent on the day.

Dragon Oilalso continued to attract strong buyer interest moving up 12.59 per cent to finish at €2.28.

The falling price of oil is good news for no-frills airline Ryanairbut the stock had a largely unremarkable day trading up five cent to €2.94, an increase of just 1.73 per cent.

Packaging group Smurfit Kappashed 6.25 per cent to close at €1.29 and Elan Corporation, which has had several strong sessions recently, traded down to €5.04, a decrease of 4.55 per cent.