The Dublin market was up over 30 points by midday today on strong performances by Bank of Ireland, Elan and a number of building stocks.
At 12.20 p.m. the ISEQ index stood at 3851.94. Bank of Ireland was ahead 18 cents at €9.55, AIB gained 5 cents to 12.05 while Irish Life & Permanent dropped 2 cents to €10.23.
Shares in building supplies giant CRH gained 25 cents to €11.45; Abbey shares jumped nearly 25 per cent to €4.35.
These gains were strong enough to offset selling in Alphyra, which saw its shares drop 14 cents to €2.49 and Arrnotts which saw a 15 cent fall in the value of its shares to €12.45.
Second-line banks had a mixed session, with First Active shares climbing 5 cents to €5.55 while Anglo Irish Bank dropped 10 cents to €6.25.
Ryanair shares moved slightly ahead to €6.40, a gain of 5 cents; market heavyweight Elan was up 15 cents or 4.5 per cent to €3.60.
This contrasts with European markets, which were are widely lower this morning with insurance and IT stocks sliding in early trade.