Good interim results from a succession of the bigger industrial companies have given the market a boost, and yesterday's better-than-expected figures from Smurfit and an exceptionally positive trading statement was one of the main factors for another good showing which brought the ISEQ within striking distance of the 5,000 mark.

Smurfit's trading statement was one of the most positive from the group for years and was the main factor behind the 18 cents rise to €2.88 (£2.27). Analysts believe that improvement in the European operations - one of the main factors responsible for the discount to Smurfit's US peer group - should result in a narrowing of the ratings gap and allow the share to move ahead towards the €3.00 mark in the weeks ahead.

While Morgan Stanley Dean Witter cut its rating for CRH from "strong buy" to a mere "outperform" despite raising its price target from €22.50 to €23, the shares continued to power ahead on the back of the booming half-year figures. Some believe that now might be a time to pause for the CRH share, but after the 46 cent rise yesterday to €21.66 (£17.06) - after hitting a €21.80 (£17.17) intra-day high, there was still no sign of any easing in demand for the shares.

Elsewhere, Telecom continued to languish in a narrow trading range and was fractionally easier on €4.30 3/4 (£3.39), Kerry continued to benefit from good results and was up 30 cents on €11.90 (£9.37) while Irish Life & Permanent gained 10 cents to €9.95 (£7.84).