Dublin Report:Volumes on the Irish market picked up yesterday as the first corporate news started to filter through after the drought of the summer period.

Not surprisingly, the busiest stocks on the day were Kerry and CRH, which both declined after reporting first-half results. These two stocks helped drag the market downwards.

Kerry Group dropped 80 cent, equal to 3.9 per cent of its value, to end the day at €19.85. The food company announced a 13 per cent increase in first-half profit, but said that its margins were being squeezed because of higher raw material and energy prices and currency fluctuations.

Meanwhile, CRH dropped 63 cent, or 2.8 per cent, to €21.65. The building materials company yesterday reported a 20 per cent increase in first-half pretax profits, but said that profits in Ireland had fallen and in Europe were weak.

Elsewhere, C&C added 6 cent to close at €4.31 a day ahead of the group's trading update. Traders are expecting positive news on the rollout of Magners cider in the UK when it releases a statement today.

Eircom was also among the gainers, adding five cent to €1.83. The telecom operator yesterday announced details of the rights issue which will fund its € 423 million acquisition of mobile operator Meteor, saying it plans to issue around 313 million new shares at € 1.35 per share. Sentiment in the stock was boosted by the fact that Eircom's Employee Share Ownership Trust (ESOT) said it would take up its allocation of the shares, avoiding a large overhang of stock, which had caused concern among investors.

Jurys closed up 30 cent, at €17.40. John Roche, a director at the company yesterday announced to the stock market that his wife, Anne Roche, had transferred 930,757 Jurys shares, equal to 1.47 per cent of the group's stock, to her daughter Michelle Roche.

A further trade of 617,000 shares at €18 a piece made after the market closed also caught traders' attention.