Market Report: The market inched ahead on relatively little trade yesterday, closing about 1 per cent higher. Corporate news was thin, with stocks instead taking some direction from easing oil prices.

This was good for Ryanair, which ended three cent higher at €6.63 amid decent demand. Merrion has upgraded its 2006 earnings forecasts by 2 per cent to reflect an improvement in the broker's expectations for yields in the second quarter. Merrion points out, however, that while the second half at Ryanair could surprise on the upside, it could also surprise on the downside.

The banks were positive as a group, with the next driver for the sector expected to come from Tuesday's pre-close update from Bank of Ireland.

The bank itself finished at €12.73 yesterday, up 12 cent. AIB meanwhile gained 13 to close at €17.33. Anglo, the busiest of the three, rose by six cent to €10.95. Dealers said the bank continues to meet resistance at €11.

Irish Life & Permanent bucked the financial trend by falling five cent to €14.95. Goodbody noted that the mooted plan for mandatory pensions in the Republic should be positive for the group on initial analysis.

The broker also pointed out that cash going into pensions would not be spent elsewhere and could thus have negative consequences for consumer spending and the general economy.

C&C was flat on the day, closing at €4.83. British reports suggest that the firm is preparing to push its cider, Magners, into off licences in Britain.

CRH was solid, rising by 35 cent to €22.15 on good volume.

IAWS, which reports full-year results on Monday, rose by five cent to €11.45. Analysts expect solid numbers, but say the performance will be weak in agribusiness and strong in food.

McInerney, which reports on Thursday, added six cent to finish at €8.46.

Jurys, which is due to host an egm for its land sale on Tuesday, rose by five cent to €18.80. Developer Sean Dunne was in the market again.

Settlement Day: September 28th