Market report: Trading on the Irish market was relatively thin on the bank holiday yesterday with only a skeleton staff manning the desks at most stockbrokers in Dublin.

However, the ISEQ sustained its positive summer run into the month of August closing up 40.82 points at 6,810.94 points despite renewed fears over high oil prices sparked by King Fahd's death in Saudi Arabia.

Strong results from the world's second largest bank, HSBC, helped Anglo Irish Bank add 5 cents to close at €11.15. Irish Life & Permanent also closed higher at €15.03, a rise of 13 cents on the previous day.

AIB, which is due to report results on Wednesday, shed 10 cents to close at €17.75, prompting an analyst to note that international sellers had traded the stock down in the session.

The star performer on the market was undoubtedly the pharmaceutical firm Elan, which closed up 50 cents at €6.50, an increase of 8.3 per cent. Traders said the rise reflected the Irish market playing catch up from Friday's close in the US, rather than any news released by Elan.

Shares in hotel group Jury's Doyle added 75 cents to close at €17.05 following the firm's statement after the market closed on Friday that brought a deal with the bidder Precinct closer. More than half a million shares traded on the market and there was an appetite to buy into the stock with anticpation growing that a sale at €17.50 will be achieved.

Ryanair, which reports quarterly results today, added 10 cents to close on €6.80 on anticipation of a positive trading statement by the firm.

IAWS, which recently presented to analysts at Goodbody Stockbrokers and NCB Stockbrokers before it entered a closed period, also saw buyer interest. The stock added 6 cents to close at €12.08 with just over half a million shares traded on the day.

Building materials group Kingspan also continued its strong run this year adding 5 cents to close at €10.81 with more than 800,000 shares traded.

Settlement Date: August 4th