Market Report: Share prices in Dublin ended the week slightly better with the banks attracting most investor interest.

Settlement Day: July 7th

The lengthy and bitter battle for the Gresham Hotel Group appears to have drawn to a close after it biggest shareholder, Red Sea Hotels, agreed to accept an improved takeover offer.

Precinct, a consortium that has been seeking control of the group since last November, now has 99.7 per cent acceptances and has said it will take the company private. If the deal is formally approved by shareholders, it will result in the de-listing of the Gresham shares and its exit from the Irish stock market.

Gresham shares ended one cent higher at €1.33, some seven cents below the €1.40 per share revised offer accepted by shareholders.

Elsewhere, dealers reported good volume trading in the main financial stocks although the sector put in a mixed performance on the day.

AIB shares ended three cents weaker at €12.48 while Bank of Ireland shares shed six cents to close at €10.71. Anglo Irish Bank shares closed down five cents at €12.70, while Irish Life & Permanent share gained eight cents to €12.38.

CRH put in a strong performance ahead of a trading statement due to be issued next week. The share rose by 20 cents to €17.68 with investors expecting good news for the company next week.

Ryanair shares shed one cent to end at €4.69 although dealers said that sentiment towards the stock had improved on foot of investor briefings.

Chief executive Mr Michael O'Leary has been meeting institutions in London this week and the airline is expected to announce strong passenger numbers for the early summer months on Monday.

Jurys Doyle hotel group outperformed, with the shares gaining five cents to close at €10.45. Grafton shares ended the week off 16 cents at €6.48 while Heiton was up three cents at €6.56.