The Dublin market ended the day 1 per cent higher, in line with the European trend which saw markets rally from a five-week low as one of France's largest banks, Credit Agricole, posted rising profits and a better-than-estimated report on the US jobs market eased concern about the economy.
In Dublin, a brief hiatus in the steam of interim results from corporates this week meant there was little stock-specific newsflow to shape the market.
Most stocks on the ISEQ were marked up, though on very low volumes.
CRH, the largest constituent on the index, pushed through the ¤12.00 mark, having fallen significantly during the week. Analysts said its investor roadshow, which is currently taking place in the UK was eliciting a mixed response from investors. The share price closed at €12.05, up 0.8 per cent.
In light of the continuing fall-out from the downgrading of Irish debt by Standard & Poors, volumes on Irish bank shares were surprisingly low. Allied Irish Banks finished the day marginally lower at €0.77 while Bank of Ireland added 1.3 per cent to close a little under €0.77.
Paddy Power bounced up on the back of its interims on Wednesday and yesterday's positive results from peer company William Hill. The Irish bookmakers added 2 per cent on the day to close at €27.20, though volumes were very light.
Mining and exploration stocks saw some of the biggest gains. Ormonde Mining rose by 9 per cent to €0.05 while Kenmare Resources added 8 per cent to €0.21 after the company reported a pre-tax profit of $1.15 million for the first six months of the year.
Independent News & Media climbed 6.7 per cent to finish at €0.67, ahead of its interim results today.
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