Positive momentum continues

HAVING advanced 3.7% last week, shares in Dublin continued the positive momentum yesterday, edging 19.05 points higher to 5297.09.

In the pharmaceuticals, United Drug climbed 18c to 2.55 on news that chairman Martin Rafferty bought 1 million shares in the company. Elan continued it's recent recovery with investors pushing the shares up 10c.

The financials had a mixed day overall, AIB fell 10c while Bank of Ireland was flat at 11.70. Anglo Irish Bank had a solid day, adding 20c while Irish Life & Permanent gained 11c to 13.70.

Elsewhere, budget carriers Ryanair were the main movers of the day, advancing 22c to 7.59 with over 1.8 million shares traded. In construction, CRH slipped 20c, despite positive news from the US that Home Depot indicated strength in the market. Hotel group Gresham was steady at 1.23 despite news of a revised takeover bid.