MARKET REPORT: It was a busy day on the Dublin market, where share prices moved marginally higher.

Most of the activity was fuelled by strong demand for the Irish banks, while the sale of over four million Galen shares focused attention on the pharmaceutical company.

The Irish banks outperformed their UK and European peers yesterday, largely managing to avoid losses.

Bank of Ireland ended the day at 10.61, up one cent, and managed to hold onto this week's gains. Though in demand, AIB closed six cents weaker at 12.37.

Anglo Irish Bank added three cent, rising to €11.43, as the bank begins a roadshow to investors. Irish Life & Permanent put in the strongest performance in the sector adding 10 cents to 12 having traded as high as 12.10 during the session.

First Active shares were one cent better at €6.15, below the 6.20 offered by Royal Bank of Scotland.

CRH added a further two cents to end at 16.27, with volumes in the stock reported to have been fairly light.

Galen shed 32 cents, drifting back to 10.55 as the market absorbed the sale of more than four million shares held by its founder and former chairman, Mr Allen McClay, to fund the purchase of its manufacturing division. The share placing was completed yesterday with analysts welcoming the sale of Galen's non-core activities.

Elan announced the completion of the sale of four drug products for 102 million it had announced earlier this year. Its shares improved in Dublin, rising 11 cents to 4.61.

Ryanair, which is expected to announce passenger numbers for November this week, gained five cents to close at 6.38.