DUBLIN REPORT: Iseq: 2,799.97 (+47.47) Settlement date: December 10thBANKING STOCKS delivered double-digit gains yesterday as the overall Irish market rose 1.7 per cent.

AIB overtook Bank of Ireland as the strongest performer on the day, adding 18.5 per cent to close just under 45 cent. Bank of Ireland rose 14.5 per cent to 41.7 cent, while Irish Life Permanent wasn’t far behind, gaining 14 per cent to finish at €1.16.

Of the three stocks Bank of Ireland was the busiest, with 35 million shares traded yesterday. As has been the case in recent weeks, activity in the name picked up during the afternoon, with heavy trading reported in its US line.

As the largest constituent of the Iseq, CRH once again skewed the performance of the index. The cement stock rose more than 3 per cent, or 46 cent, to finish at €15.03 on decent volumes of 2.8 million shares. This move was in line with CRH’s sector as most of its peers rose between 3 and 4 per cent on the day.

Grafton Group was also up, adding almost 4 per cent to finish at €2.97.

Low-fares airline Ryanair was fairly steady all day and finished more or less flat at just under €3.82. One Dublin broker expressed surprise that the stock didn’t go better on the day given the rumours (which proved correct) that the air-travel tax on passengers would be reduced in the Budget.

Aer Lingus, which will also benefit from the reduced travel tax, added just 4 cent to finish at just under €1.10.

Elsewhere, Greencore fell about 3.5 per cent, or 5 cent, to finish at €1.39 after announcing the acquisition of Boston-based sandwich manufacturer On a Roll Sales.

Fellow food stock Glanbia was also a loser on the day, shedding 1 per cent to €3.38, while Norkom was marked down about 1.5 per cent to €1.25.