Market report:Waterford Wedgwood was the star performer on a generally down day in the Irish market yesterday after exchanges around Europe took their lead from declines overnight in the US.

The luxury goods maker impressed investors with a positive trading update for the Christmas period, sending the shares up 13 per cent. Still, at just over 8 cent a piece, the stock remains a minnow on the Irish market.

More than eight million shares changed hands as the company reported its best Christmas for five years, boosted in particular by strong sales of its Waterford Crystal range of products.

Ryanair was also a gainer, ending the day up 39 cent, or 3.7 per cent, at €10.82. Dealers said the airline was benefiting from the declines in the price of oil and its positive traffic statistics out earlier in the week.

Elsewhere, demand for fruit group Fyffes remained strong, with 11 million shares changing hands. However, the stock could not hold onto the significant gains made earlier in the week and closed down 3 cent, or 2.8 per cent, at €1.05 after a spate of profit taking.

Activity in other stocks was muted, however, with lower than average interest in the Irish banks, dealers said.

AIB and Anglo both fell 20 cent, closing at €22.80 and €15.40 respectively.

Bank of Ireland, meanwhile, was a gainer, ending the day up just 3 cent, at €17.25.

Elsewhere, some of last year's biggest gainers struggled as investors took the opportunity to take some profit following the recent good runs. These included building materials groups CRH and Kingspan, which fell 29 cent and 25 cent respectively, to close at €30.75 and €19.95, while drinks company C&C was down 10 cent, at €13.50.