The Irish market continued to chug ahead steadily despite the weaker tone on international markets and closed over 1 per cent higher with solid demand across the board.
Where the market goes from here largely depends on the actions of the Fed but any easing of US monetary policy would only be good news for the Irish market.
There was no corporate news to excite the market, but financials were firmer with AIB hitting a high of £10.33 before closing up 15p on the day on £10.25.
Bank of Ireland also fell back from a high of £13.12 1/2 but still closed up 12p on £12.97 in a final sterling-denominated deal.
Anglo Irish rose strongly and closed 6p to 180p ahead of full-year results next week, although most of the focus on Anglo is likely to be based on the stock as a potential take-over target. First Active was unchanged on 330p.
Potential merger partners Irish Life and Irish Permanent enjoyed contrasting fortunes, with Irish Life down 17p on 540p while Irish Permanent eased 5p firmer to 890p.
With the JS Corp/Stone merger finally consummated - for better or for worse - Smurfit gained 4 1/2p to 125p although both JS Corp and Stone were weaker in New York in line with the weak early tone in the US.
Ryanair - given a "sell" recommendation from Dolmen Butler Briscoe was 10p easier on 400p although the share seems well-supported at that level.
Esat - given an upgrade by Moody's on the basis of the liberalisation of the domestic telecoms market and lower interconnection rates - jumped $17/8 on NASDAQ to $35 although other Irish stocks on the New York market were marginally weaker.
