Market report: Despite the usual Friday afternoon slumber and negative economic news from the US, the Dublin market managed to trade up and volumes were described as relatively healthy.
The ISEQ was up 44.35 points (0.74 per cent) at 6,029.23.
Disappointing job figures from the US failed to dent the broadly upbeat sentiment and some Dublin stocks bounced back from setbacks earlier in the week, most notably Anglo Irish Bank. However, it weakened again to close 13 cent down on the day at €19.17.
Independent News & Media performed strongly during the week, but profit-taking yesterday saw the share slip back four cent to €2.50.
Talk of a special dividend for shareholders seems to have given a boost to Viridian this week and the share climbed again yesterday by two cent, ending at €11.06.
"There has been no official announcement about what mechanism they will use to return the funds to shareholders, but many investors have already made up their minds," one trader said.
Elan was in recovery mode, although the stock has mountains to climb before it reaches the levels of earlier this year.
Nevertheless some buying took place and the share was up 30 cent, or 12.5 per cent, at €2.70.
"Some people still believe there is a slim chance Tysabri can reach the market and are buying at these cheap levels. A lot of buyers are not buying much stock but just keeping in there in case it all brightens up," said one trader.
Traders said some positive news would be needed to drive the share further ahead.
Bank of Ireland was one of the main gainers on the day. Rumours of a potential takeover bid stoked up the price, said traders, although the reports of an Italian bank suitor were dismissed by traders. "It is the usual Friday afternoon thing. It is a lot of hot air," said one trader.
The stock still managed to perform well, up 35 cent at €12.50.
Settlement Day:
