Shares in Dublin surged higher yesterday, led by gains in the financial sector, after the country's biggest bank released better-than expected results for the first six months of 1997.

Allied Irish Banks, which started the day at 595p, said it made profits of £242.2 million for the halfyear. Shares in the company saw massive interest, and its price soared to an all-time high, closing up 40p, almost 7 per cent, at 635p. Guarded calm lay behind yesterday's performance of British equities as a raft of disappointing corporate results jostled for influence with another record breaking performance on Wednesday for Wall Street.