Leaders attract interest during upbeat session in patchy trade

DUBLIN stocks had an upbeat session in patchy trade which saw most of the front liners attract good buying interest.

DUBLIN stocks had an upbeat session in patchy trade which saw most of the front liners attract good buying interest.

The financial stocks attracted particular attention, possibly taking their lead from the British banking sector, which has been perky of late.

AIB gained 6p to close at 355p while Bank Of Ireland was 3 1/2p better at 453 1/2p. Irish Permanent was up 2p to 400p while Irish Life was 5p stronger, ending the day at 245p. Anglo Irish Bank edged up slightly to close 1/2p better at 63p.

Building materials group CRH rose 6p to 608p as dealers said investors continued to respond positively to the company's announcement that it had spent £245 million so far this year on a series of acquisitions in Europe, the United States and Britain.

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Smurfit gained 3p to close at 167p, while Avonmore was 3p weaker at 150p.

Exploration stocks had a mixed day as Navan, which was the session's biggest loser, dropped 14p to 171p. Ivernia closed unchanged at 82p and Arcon did likewise at 33p. Kenmare was up 1/2p at 34 1/2p, while Glencar finished 2p better at 62p.

Other stocks on the move included Ardagh, which lost 2p to close at 135p, IWP which was down 5p at 490p and IAWS which closed 1p better at 161p.

Printing group Adare announced yesterday that a pension fund on behalf of finance director, Mr Peter Lynch bought 1,400 shares at 43Op last Thursday. The purchase brings the holdings of Mr Lynch and his family to 210,087 representing 2 per cent of the issued share capital.

The market's focus is expected to switch to Britain today as new earnings and employment data are due for release. The gilt market posted gains as higher-than-expected CPI data failed to have a huge impact, dealers said. The speculation about a possible rise in Irish retail rates was also said to be no longer casting a shadow over the market.