Stock markets began today's trading session in upbeat mode, as an overnight first-quarter trading update from US computer chip giant Intel boosted equities across Europe.
The US earnings reporting season continued with a better-than-expected performance from Intel, which put equity values on a strong footing. JP Morgan, the first major bank to release first-quarter numbers, chipped into the buoyant mood among investors by announcing a 57 per cent jump in profits.
But after a strong start to the day, stock markets failed to gather pace, with one Dublin-dealer attributing the curtailed advance in share prices to the fact that markets have had a good run of late - investors appeared to have banked on a slew of higher profits from the major US corporations before they were announced.
"The market is taking it in its stride," said the dealer. Trading volumes, too, tapered off as the day progressed.
Stock markets across Europe still finished in upward territory on the day, however, with the Iseq index of Irish shares clocking up a 1.4 per cent gain.
Among the financial stocks, Bank of Ireland rose 2 per cent to €1.67, while AIB made bigger gains, climbing almost 8 per cent to €1.55.
Buyers encircled no-frills airline Ryanair, which rose 1.8 per cent to €4.06, while Independent News & Media continued its upward momentum with a 7.9 per cent rise in its share price, which closed at 13 cent.
Pharmaceutical group United Drug also attracted buyer interest, with the stock finishing up 4.37 per cent at €2.77.
Building materials group CRH, the biggest stock on the index, was also the busiest stock.
The company, which announced a change in management at the top of its European distribution business, rose 1.4 per cent to finish at €18.95. Grafton also advanced, closing up 3.1 per cent at €3.42.
