The market managed to outperform most of its European counterparts yesterday, closing marginally higher on the back of sound performances among headline stocks.

Volumes were thin, with most stocks struggling to trade in volumes of more than one million.

AIB was among the exceptions as it stemmed a short-lived losing streak by finishing seven cents stronger at 12.35.

Bank of Ireland also saw good interest, with 2.3 million shares traded as it closed unchanged at 10.40. The bank said its share buyback continued on Thursday with the purchase of 200,000 shares at 10.205.

In other financials, Irish Life & Permanent added nine cents to finish at 9.89, while Anglo Irish Bank was two cents stronger at 8.20.

CRH started the day well with a jump up to €16.85, but profit-taking stepped in to drive it back to close 15 cents lower at 16.55.

Elsewhere, Paddy Power was the star of the day, closing 24 cents higher at 6.00 on low volume as Goodbody raised its price target for the stock from 6.00 to 7.00. Dealers said the large volume of cash flowing into bookies' coffers at the Galway Races may also have influenced investors' views on the company.

DCC also had a solid performance, adding 15 cents to finish at 10.10. Qualceram had a particularly good run on weak volume, gaining 20 cents to end at 1.40. Heiton was less positive, shedding 13 cents to finish at 3.10.

Elan continued to shrug off its latest troubles by closing 15 cents higher at 4.40.

Waterford Wedgwood added three cents to close at 30 cents as investors digested Thursday's tentatively positive trading statement.

Independent News & Media ended unchanged at 1.63.