MARKET REPORT:THE IRISH stock market reflected positive international trends yesterday and outperformed many of the leading exchanges as it finished the day 1.7 per cent or 104.7 points stronger.

Among the more solid performers in a session of relatively modest trading volumes was drinks company C&C, which saw its share price rise by more 4 per cent when UK chancellor Alistair Darling announced a far smaller rise in cider duties than had been feared. The drinks group closed up 17 cent at €4.18.

Elsewhere, Aer Lingus posted a better-than-expected 16 per cent rise in 2007 operating profits to €88 million. Despite warning that it faced significant headwinds such as higher oil prices and greater competition, the decent figures reported by the airline saw its share price rise by seven cent or 3.5 per cent to €2.06.

Its low-fares rival, Ryanair, also enjoyed a good day as it tacked on 18 cent to €3.25.

Despite reporting a 67 per cent fall in net profit from €157.4 million to €52.6 million, Tullow Oil saw a huge jump in its share price as it disclosed that revenues had risen by 10 per cent to €639.2 million in what chief executive Aidan Heavey described as an "exceptional year" for the company.

Financial stocks also saw an improved performance, boosted by overnight news from the US that the S&P banks' index was up 7.5 per cent. From early morning the banks performed strongly, with Irish Life & Permanent leading the way. It eventually closed the day 23 cent or 2.18 per cent up at €10.78.

AIB and Anglo Irish Bank were both up almost 2 per cent by close of business. AIB ended the day at €13.61, while shares in Anglo stood at €8.78 as the market closed.

Bank of Ireland was up 1.3 per cent as it tacked on 12 cent to €9.32.

Settlement date: March 17th