Bank of Ireland results are day's main talking point

The bumper half-year results from Bank of Ireland, not surprisingly, were the main talking point on the Dublin market

The bumper half-year results from Bank of Ireland, not surprisingly, were the main talking point on the Dublin market. And although the share came back a long way from its 910p high of the day, dealers believe that inevitable upgrades of full-year profits will push the share back above the 900p level.

Normally, results come in at least close to broker forecasts - but in the case of Bank's interims the outcome was 10 per cent above the highest forecast. From the overnight level of 869p, Bank shares traded up to a 910p, an all-time high, before profit-takers brought the share back to a close of 885p, still up 16p on the day.

Other financials were also active and AIB closed up 4p on 564p, after hitting 570p in earlier trading.

Anglo Irish Bank was 2p firmer on 109p ahead of results. Full-year profits of around £29 million and earnings per share of about 8.5p are expected - anything much higher should see the Anglo share scale new heights.

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Irish Life, meanwhile, rose 5p to 335p in reasonably active trading, while Irish Permanent also gained 5p to 660p.

Elsewhere, Greencore - which fell to its lowest level since mid-1996 when it dropped to 290p - finally found some support and regained 10p . The shares were on offer at that closing level and the market will be looking from some positive news to push the price ahead much further.

Avonmore/Waterford was 2 1/2p easier on 262p as the ballot on the £50 million voluntary redundancy offer to an estimated 1,000 staff is awaited. Once the ballot is complete, the group is expected to reveal the exact scale of the rationalisation and where exactly the plant closures will fall.

Among the main industrial stocks, CRH was unchanged on 775p while Smurfit was 2p easier on 180p. In the second-liners, Ryanair continued to drift, despite interim results which met market forecasts. The share dealt down 9p to 307p in thin trading. Golden Vale gained 2p to 80p, Independent was 5p higher on 375p, Waterford Wedgwood gained 1p to 77p while Reflex lost 1 1/4p to 9p. DCC rose 3p to 440p in the wake of this week's results.

Gushing media comment in Britain on its Devon gold find fuelled interest in Minmet and, on the London market where most of the trading is concentrated, almost 17 million shares dealt as the shares rose first from 6 3/4 p sterling to 8p sterling, before falling back on profit-taking to close unchanged. In Dublin the shares jumped 1 1/2p to 8 1/4p.

Minmet is the latest in a long series of "punter" stocks in the exploration sector. Investors will be hoping that there is more substance to the Minmet story than to some of the previous exploration glamour stocks which left many investors heavily out of pocket. Minmet also has interests in Portugal.

Elsewhere among exploration stocks, Tuskar rose slightly to 5.125p, while Tullow traded unchanged at 139p.