Market Report

Ryanair gained altitude during what was another slow day on the Irish market that saw the ISEQ Index of Irish shares add 50.03 points to close at 5,447.51.

More than 3.6 million shares in the budget airline changed hands yesterday, boosting its price by 15 cent to leave it cruising at €4.40 at the close of business.

Datalex, which reported a 90 fall in operating losses, was not so lucky.

It shed 1 cent to close at 43 cent after trades amounting to just 3,000 shares.

The only other sources of corporate news yesterday, food and drinks group, C&C, was also down.

It dropped 11 cent to €2.45 at close of business, despite what dealers described as a "solid" trading statement.

Eircom gained 1 cent to €1.46 as investors bought in anticipation of today's first quarter results announcement. Around 3 million shares in the telco were traded yesterday.

Independent News & Media also saw volumes run into seven figures as it added 1 cent to finish at €2.01. Over 1.1 million shares were shifted during the day.

Irish investors responded to Elan's strong performance in New York on Wednesday by pushing the price up by 43 cent to €18.25 at the close.

In the financials, Irish Life and Permanent (IL&P) added 5 cent to close at €12.30. The bank issues interim numbers on Wednesday.

AIB also stood out in this sector, with 2.2 million shares changing hands, the stock added 16 cent to end the day at €12.96.

Bank of Ireland added 15 cent to close at €10.95, with volumes topping 941,000.

Kerry Group, continued a recent trend and added 10 cent to €7.20.

In the same sector, Glanbia, which is due to report its interim results next week, shed 4 cent to €2.46.

However, investors took a punt on another stock that is due to release numbers next week, bookmaker Paddy Power, which passed the post 5 cent ahead at €9.90.

Settlement Day: August 31st