Market report:It was a positive day for the Iseq index of Irish shares yesterday, with a climb of 1.21 per cent, meaning it outperformed most of the major European markets.

It wasn't the best of starts, with the banks all falling back in the morning, but they recovered to all finish in positive territory.

Irish Life & Permanent was the best performer, rising 3.51 per cent to close at €20.95, up 71 cents on the day. AIB and Bank of Ireland both have had better days, with dealers speculating that investors may have decided that now is a good time to buy in.

There was more trading activity in Irish Continental Group, which saw its share price reach a record high of €20.75, up 50 cents on the day. There was volume of 2.5 million in the stock, but 2 million of this related to purchases made by the One51 consortium late on Thursday.

Independent News & Media, the subject of speculation regarding the interest of Denis O'Brien in the stock, climbed 2.79 per cent to €3.69, up 10 cents.

Kingspan had a good day, climbing 70 cents to €20.99, a rise of 3.45 per cent. Another notable performer was Grafton, which also saw its share price climb more than 3 per cent to finish at €11.68, up 35 cents.

Food group IAWS rose 2.52 per cent to €17.92, adding 44 cents, while Kerry was up 50 cents to €21.97.

Among the smaller IEX-listed stocks, Petroneft had a glorious day, its share price shooting up by almost 21 per cent to €0.87, adding 15 cents. The exploration company is expected to release a positive statement today.

Only a handful of stocks finished in negative territory. Among them was Paddy Power, which fell 30 cents to close at €20.70. FBD and Glanbia also shed more than 1 per cent of their share prices, but overall it was a positive day for the market.

Settlement day: April 13th