Settlement Day: November 16thThe Irish market ended the day at its highest closing level for a month, although the performance of the Iseq's members were mixed.

Grafton was one of the busier stocks, with about 4 million shares changing hands, double the usual daily average.

The builders merchants and DIY group took a battering after its UK rival Travis Perkins issued a profit warning, saying the market had toughened in October and that the normal winter downturn would be worse than usual.

Shares in Grafton dropped 55 cent, or 6.3 per cent, to €8.18. One trader said the decline was harsh considering that the group is not as exposed to the retail market as its UK rival.

The financials were mixed, with Allied Irish Bank and Bank of Ireland both rising 5 cent to end the day at €17.62 and €12.85 respectively.

Irish Life & Permanent continued its positive run, ending the week 55 cent above its value at the end of the prior week. Yesterday, the stock added 13 cent, to close at €15.60.

Anglo fared less well losing 2 cent to end the day at €11.18.

Eircom was again active, though volumes were down on the highs reached earlier in the week. Yesterday, a team from Swisscom spent a few hours at Eircom's headquarters in Dublin as due diligence began in earnest.

The stock added 3 cent, to close at €2.33.

Interest was strong in Elan, which ended the day up 35 cent, or 4.7 per cent, at €7.85. A US analyst upgraded the stock, helping boost sentiment in the pharmaceutical group.

Elsewhere Ryanair, which yesterday announced a€854 million investment in Frankfurt-Hahn Airport in Germany, had another good day, rising 28 cent, or 4 per cent, to €7.25.

Analysts believe the stock is benefiting from positive sentiment surrounding its results earlier in the week and expectations that it is overly cautious about the traditionally quieter winter period.