The Irish Stock Exchange revived yesterday in line with international markets and indications of a slowing US economy, although it failed to keep up with the record highs achieved in London, Frankfurt and Paris.

The ISEQ rose by 0.82 per cent on the day, with a 0.48 per cent rise recorded in financial stocks. Bank and financial stocks proved to be the main movers in light volumes, although a surge in the pharmaceutical company, Elan, whose stock comprises 10.5 per cent of the ISEQ's value, was responsible for much of yesterday's lift. Elan was up by 259p to £53.60 reflecting bullish movement in New York. At the close of the Dublin market yesterday Elan's New York price was up by $2 3/8 to $75 1/3.

"The front-line stocks are where all the international money is going," one dealer said. AIB was back up 8p sterling (9.3p) to 963p sterling (£11.24), while Bank of Ireland closed 2p up to £15.17. Anglo Irish was also up, rising by the equivalent of 7p, from 176.14p sterling to 212p. Among the other financials, Irish Permanent gained 10p, closing at 975p, while Hibernian slipped back 35p to 730p and Irish Life down 5.5p to 689p. Among the industrials, Smurfit was back a further 3.5p to 196.5p, with one dealer saying that second quarter results due from its US associate, JS Corp, next week were eagerly awaited by holders of the underperforming stock.

CRH held its own yesterday, staying at £10.40 on one deal while Ryanair slipped back 15p to 590p.