Settlement Day: August 15th: The Dublin market was busier yesterday with the banks leading the charge. The sector was buoyed by the expectation that UK interest rates will rise later this year and help to ease the pressure on profit margins, writes Siobhan Creaton.

Of the Irish banks, Bank of Ireland has greatest exposure to this market and made gains.

By close of business the stock had added 3 cents to end at €10.67 with dealers expecting that the bank's share price can make further gains in the short term.

AIB shares gained ground, moving ahead by 11 cents to close at €12.86.

Anglo Irish Bank got the biggest boost on the day and was largely helped by a new report from Morgan Stanley that upgraded its targets for the shares.

The broker has set a new target of €16.50 for the shares and fuelled a 3 per cent rise yesterday. Anglo shares gained 38 cents to €13.23.

Irish Life & Permanent failed to benefit from the firmer tone with its shares ending 5 cents weaker at €12.20.

CRH, which attracted an upgrade from Warburg, was better adding 16 cents to close at €18.30, up almost one per cent on the day.

Elan had another good run in Dublin with the momentum reflecting a stronger performance in New York overnight. In Dublin the shares gained €1.19 to €16.93 and were again stronger in the US.

Eircom remained unchanged at €1.43.

Ryanair made further progress gaining 7 cents to €4.25, although higher oil prices could put further pressure on the stock.

Other shares traded in Dublin included IAWS wich rose by 10 cents to €10, Fyffes added one cent to €1.76 while Kerry was two cents weaker at €17.55.

Irish Continental Group added five cents to €9.20 while Independent News & Media gained one cent to €1.92.

DCC shed 20 cents to €14.30, Grafton was three cents weaker at €6.62 and Heiton was down eight cents at €6.25. Dublin ReportSettlement Day: August 15th