Dublin Report Settlement Day: June 28thThe Irish stock market edged higher yesterday with good volume in most of the leading stocks, particularly the banks.

Irish Life & Permanent provided the main news of the day as it issued an upbeat trading statement, although the shares slipped by 17 cents to €12.73 as the market focused on signs of margin erosion.

More than 6.6 million Bank of Ireland shares were traded, although the share price closed two cents lower at €10.93. A similar amount of AIB shares changed hands in Dublin as the stock closed unchanged at €12.55.

Dealers reported some sellers of Anglo Irish which finished 15 cents lower at €12.78.

Among industrial stocks, CRH closed nine cents higher at €17.15 as it remained firmly stuck in a €17.10 to €17.20 range.

C&C was one of the stronger performers on the Irish market, despite recent reports of falling pub sales, advancing 10 cents, or more than 4 per cent, to €2.45.

Galen was also up by 26 cents, or 2.5 per cent, in Dublin to €10.66 as the market was cheered by its share buyback.

Heiton was broadly unchanged, closing two cents lower at €6.58, as brokers said Grafton would have to pay around €7.00 per share to agree a deal with the company.

Grafton shares closed 15 cents, or 2.4 per cent, lower at €6.23.

Nearly 21 million Waterford Wedgwood shares were traded as the stock added one cent, or nearly 3 per cent, to €0.19. Company broker Davy described the risk/reward ratio in the share price as attractive, noting it factored in little of the potential upside at the company.

"At just 0.4 times sales and 4.7 times next year's forecast EBITDA, there looks to be scope for significant share price appreciation, as evidence of progress emerges over the coming months," Davy said.

Meanwhile, shares in Vodafone extended Tuesday's falls to touch a new year-low of 121.25p, a loss of more than one per cent, as Mr Vittorio Colao, one of its most highly respected managers, resigned.