MARKET REPORT: THE DUBLIN market rallied yesterday, as the decrease in the price of crude oil boosted stocks. It was a day of light trading, with volume mainly seen in second line names.

FBD Insurance soared by €1.70 or 11.7 per cent to hit €16.20, while both Irish airlines had a good day yesterday on the back of falling oil prices. Ryanair finished the day up 23 cents to €2.87, while Aer Lingus saw its share price rise by 10 cents to €1.63.

Construction stocks also rose following the lead of their UK counterparts, as the announcement by the UK government of a temporary stamp duty saw UK stocks such as Taylor Wimpey jump by as much as 8.5 per cent.

CRH led the Irish construction charge, increasing by €1.11 to €18.98. Kingspan gained 25 cents to advance to €8.30, while McInerney advanced by 1 cent to €0.36 and Grafton finished the day up 8 cents to €3.80.

Talk of stake building in food group Greencore saw the stock add 15 cents to €2.20.

Amongst the financial stocks, Bank of Ireland was the best performer, up 25 cents to €5.76. AIB closed up 26 cents to €8.91, while Irish Life Permanent advanced 10 cents to €6.40. Anglo Irish Bank fell back by 8 cents or 1.4 per cent to €5.73. Ahead of its interim results today, food provider Total Produce experienced very heavy trading, with volumes reaching over 12 million in Dublin yesterday. The price of the stock remained static at €0.55.

Tullow Oil suffered from falling oil prices, and its share price dropped back by 51 cents or 5.2 per cent to €9.20.

Newcourt Group saw its profit fall by two-thirds, leading to a 1 cent decline in its share price to €0.42, while facilities management and storage group Veris reported a 7 per cent fall in profit despite higher revenues in the first half. However, it saw its share price rise by 6 cents to €0.85.