The Dublin market rebounded yesterday recovering some of its losses earlier in the week. The rebound was mainly caused by a further recovery among the financials, the worst victims of the midweek slump in the ISEQ.

AIB was particularly strong, ending the day at 937.5p, up from 915p, in a healthy trade. Bank of Ireland was also in bullish form, putting on 24p to end the day at £13.30. "The financials lost their way a little this week but now they have steadied again," said a dealer.

Other smaller financial stocks like Anglo Irish Bank, Irish Life and Hibernian followed the same trend, although they lost less value earlier in the week.

Despite the strength of the financials, Irish Permanent was in sluggish form and, in limited trade, closed unchanged at 880p, which was a recovery on earlier in the day.

Elan Corporation pulled back some value after a 294p fall on Thursday. A recovery in the share price in New York gave dealers in Dublin some new confidence and the stock closed up at £43.61, from £43.42.

The other main climbers on the day were: Grafton, which was up 30p to £18.50; Marlborough, up 5p to 340p; and Norwich Union, up from 506.5p to 512p.

On the slide were Ryanair down to 495p from 502p, Irish Continental down from £13.10 to £12.90 and Jurys, which lost 10p at 635p.

Dealers said the Asian crisis was still in the background and the weakness of the Nikkei meant continued nervousness.