Market report:The Irish market continued its rollercoaster ride yesterday, rallying by over 2.5 per cent, having dipped by 1 per cent on Wed-nesday, and "outperformed New York by a mile", in the words of one trader.

Anglo Irish Bank led the way yesterday with a stellar performance, gaining almost 5 per cent, or 65 cent, to close at €14.02. However, one trader noted the bank had traded very low on Wednesday, finishing at €13.37, and much of yesterday's gain was simply a recovery from this.

A positive knock-effect from its strong set of results out on Wednesday finally seemed to filter through to AIB's share price yesterday, following a negative reaction the day before. It rebounded by 3.4 per cent, or 65 cent, to €19.61, having lost 29 cent the previous day.

Despite revelations that C&C is planning job cuts, the drinks company also had a good day's trading, benefiting from the general positive sentiment permeating the market. Good interest in the stock pushed it up to €6.50 and although it slipped back to finish at €6.37, this still represented a gain of 12 cent.

Elsewhere, the construction sector also put in a strong performance. CRH traded up by 99 cent to €33.14, boosted by positive news flow as French building materials group Lafarge announced strong second quarter results. Kingspan also fared well, gaining almost 5 per cent, or 81 cent, to close at €17.60.

Ryanair also benefited from the upbeat mood, hitting €5.45 at one point. Although it fell back to €5.41, this was still an increase of 11 cent. Kerry Group was one of the few losers yesterday, shedding 25 cent to close at €18.55.

Settlement day: August 7th: