Dublin Report: The Dublin market traded higher again yesterday in line with activity elsewhere, particularly in London. The Iseq was up 69.95 points at 6,646.18, an increase of 1.06 per cent.

Traders said interest in Irish stocks was strong, although many traders remained worried about losing big names from the exchange, particularly if Jurys Doyle goes private. Ironically it is an international deal that has provided a boost to trading in Dublin so far this week.

The reverberations from the 02/Telefonica deal continue to be felt. Trading in Eircom continued and the stock was up 3 cent to €2.03, a rise of 1.5 per cent. "The price offered by Telefonica for 02 confirms the price paid by Eircom for Meteor," was the opinion of one trader. Another said Eircom has got to be a long-term takeover target, but he expected other larger telecoms companies to be taken out first.

The market also broadly welcomed the decision by CRH to spend €344 million on three US acquisitions in Kentucky, Virginia and Minnesota. "It's a vote of confidence generally to see them prepared to make deals like that," said a trader. Some market observers had become worried about the number of CRH acquisitions drying up, but they need not have worried. The market seemed to like the news - the stock was up 69 cent at €21.54, a rise of 3.3 per cent.

Ryanair for the second day was also big gainer, with the stock up 14 cent to €7.15, a rise of 2 per cent. The downward pressure on oil prices is the main reason, said traders. The company's results issue next week and most traders believe the news will be good. The company is also going on an investment road show next week. "Its unlikely they would be undertaking that if the figures were not decent," said a trader.

The market remained sceptical about the interest in IWP and traders said few institutions were shareholders anymore.

The shares finished at 5 cent, down one cent.

Settlement Day: November 4th