Dublin Report Settlement Day: May 26thThe Irish stock market closed modestly higher yesterday, helped by a calmer mood on international markets on foot of lower oil prices and good corporate results.

The ISEQ added nearly 0.3 per cent as its constituent companies turned in a mixed performance.

In the banking sector, AIB edged up by 12 cents to €11.82 and Anglo Irish gained 17 cents to €12.90 but Bank of Ireland gave up more ground, losing seven cents to €9.80.

Irish Life & Permanent derived no benefit from its annual meeting or its decision to appoint Gillian Bowler as its new chairman, closing five cents lower at €12.35.

Industrials, too, were mixed as CRH added 21 cents to €17.54 while Elan gave up 22 cents in Dublin to €18.25.

Ryanair did little on the day, closing just one cent lower at €4.54.

Independent News & Media was one of yesterday's better performers, adding four cents or more than 2 per cent to €1.94 as the threat of strike action at the newspaper group was averted.

Fyffes did not fare as well, slipping back by four cents to €1.54 as a block of 2.7 million shares changed hands.

In the leisure sector, Gresham provided the main news of the day as the consortium of investors that has been circling the company finally launched its bid for the hotel group. The shares added one cent to €1.28.

Meanwhile, Jurys failed to benefit from a trading update from Hilton which confirmed recent signs of a recovery in the London hotel market.

The shares closed 15 cents lower at €9.50.

Paddy Power was up by three cents to €9.65 as Hilton, owner of Ladbrokes, said its betting and gaming division saw strong growth in the first four months of the year.

In the construction sector, McInerney gave up 10 cents to €4.55 despite announcing the €13 million acquisition of the capital of Alexander Developments as a platform for further expansion in Britain.