Irish shares have staged a very strong recovery with stocks up over 5% early this afternoon.
Part of the rebound has been prompted by better than expected performance from Ryanair, which announced profits up 20% to €139m.
International markets have also recovered some of their losses of recent days.
Ryanair shares are up 10%, but it is not the only one, Elan is up 11% and technology group Iona has risen 10%.
Even the Irish banks, which have been taking a drubbing recently, have jumped 5%.
It is certainly good news for investors after a miserable summer so far, but it also underlines the fact that the Irish market is extremely volatile.
One expert said this could be a one-day movement.
Tomorrow attention will turn to AIB's results, the market will be closely watching for its signals on the housing sector.
The property market and the banks are the two big pressure points on Irish shares.
