Market report: The Irish stock market moved higher yesterday, helped by solid advances in most of the leading shares. A good day for financial stocks, allied to gains by the major industrials, helped the ISEQ index of Irish shares to close 35 points or nearly 0.6 per cent higher.

The movers on the day included drinks and snacks group C&C, which closed six cent, or 1.9 per cent, higher at €3.17 following news that France's Pernod Ricard was looking at a bid for Allied Domecq.

In contrast, Eircom was one of the few losers on the day, shedding eight cent or 3.9 per cent of its value to €1.97 as more than two million shares traded in Dublin. Dealers also reported heavy volume in London amid speculation that the seller was the Employee Share Ownership Programme (ESOP).

Otherwise, the picture was more benign. CRH edged up by 19 cent to €20.39, Ryanair gained six cent or 1 per cent to €5.99 while Paddy Power bounced back from Monday's weakness to close 30 cent, or 2.2 per cent, higher at €13.80.

Elan continued to attract retail buying interest, gaining 16 cent, or 5.6 per cent, to €3.00 in Dublin. In the US, it was up 13 cent or 3.6 per cent at $3.79 by the Irish close.

Kerry Group also had a strong day yesterday, adding 35 cent or 1.9 per cent to €19.10 as some of those who had stayed clear of the stock amid talks of a rights issue moved to increase their weighting, dealers said.

Irish Continental Group was another strong performer, adding 20 cent or 2 per cent to €9.80.

In the financial sector, IFG was the feature of the day as it reported what analysts described as a solid set of results for 2004. However, the shares gave up six cent, or 5.8 per cent, to €0.97.

Other financial shares closed higher with AIB adding 17 cent to €16.29, Anglo Irish up 12 cent to €19.72 and Irish Life & Permanent gaining eight cent to €13.75. Insurance group FBD also added 26 cent or 1.2 per cent to €21.66 on the day.

Settlement Day: April 8th