Market report:It was a somewhat quieter day in the Irish market yesterday. Volumes were mixed, but the Iseq still managed to put in a decent showing, outperforming its European counterparts and ending the day up 1 per cent at another new record.

Elan was one of the biggest gainers, rising 65 cent, or 6.4 per cent, to close at €10.85.

Dealers said the stock benefited from fourth-quarter results from US pharmaceutical group Biogen, which despite coming in slightly behind analysts' forecasts, provided an update on sales of Tysabri, the multiple sclerosis drug it has developed in conjunction with Elan.

Elan is due to release its own fourth-quarter figures next week.

Elsewhere Greencore shares added 5 cent, or 1.1 per cent, to close at €4.55. The food group yesterday told shareholders gathered at its agm that business this year would "at least" match analysts' forecasts.

It also said it is looking at ways of unlocking the potential of its 970-acre land bank. Property group Blackrock was also a newsmaker in the Irish market, though the positive results failed to boost the share price. Despite attracting significant attention - 24 million shares changed hands - the stock closed unchanged at 58 cent. The results were pretty much in line with expectations.

Independent News & Media was again in demand, with almost 2 million shares trading. The stock was up 11 cent, or 3.3 per cent, at €3.50. Homebuilder McInerney also put in a good showing, adding 60 cent, or 3.8 per cent, to end the day at €16.38.

Moving in the other direction, drinks group C&C was one of the few losers, slipping 10 cent, to €11.60. Dealers said they expect the stock to be volatile in the run-up to its pre-close trading statement due at the end of the month.