Market report: Ireland's benchmark stock index rose for the first day this week, led by financial shares, after the Revenue Commissioners said they would review plans to charge stamp duty on contract for difference (CFD) stocks. The ISEQ Overall Index added 101.92 points to 8,006.79.

Overall volume picked up, with more than five million shares traded in Anglo Irish Bank alone in Dublin and London. Other CFD stocks, including AIB and DCC, also climbed, helped by optimism that the stamp-duty issue will be resolved.

"Stock traders were using this news to buy up CFD stocks," one broker said. "These stocks have been absent lately."

Ryanair was one of the stocks that benefited. It closed little changed at €7.70, erasing earlier gains amid concern about the impact of rising oil prices on the airline. The company's chief financial officer, Howard Millar, said yesterday he expected a higher fuel bill this year, with fuel set to account for 38 per cent of total costs. Ryanair does not plan to resume hedging until oil prices drop below $60 a barrel, he said.

AIB rose 29 cent, or 1.5 per cent, to €19.52, while Bank of Ireland gained 23 cent, or 1.5 per cent, to €15.28.

Volume was also boosted as NCB Stockbrokers attracted more business by pledging all of its commission for yesterday to three charities. A broker at the house described this year's charity day at NCB as "our desk's biggest year ever".

Shares of drugmaker Elan increased 23 cent, or 2 per cent, to €12.05 on news that the company and its partner Biogen Idec have resumed trials on their controversial multiple sclerosis treatment Tysabri.

Shares of Qualceram Shires slumped three cent, or 2.3 per cent, to €1.25 yesterday. The maker of bathroom suites posted a net loss of €5.39 million last year, compared with a profit of €5.5 million in 2004.

It attributed the loss to a restructuring charge, lower UK sales, and rising energy costs.

Settlement day: April 4th