Global markets on the rise

Saturday, March 06, 2010

THE ISEQ index finished the week strongly closing up 45.84 points at 3,011.24. Markets throughout the world put in strong performances buoyed by news from the US that employers cut a smaller than expected 36,000 jobs in February, leaving the unemployment rate steady at 9.7%.

In the financial sector, AIB progressed 20c to €1.44. Bank of Ireland moved up 12c to €1.21. Irish Life & Permanent improved 21c to €3.23 while insurance company FBD Holdings was 20c stronger at €5.95.

In the construction sector, CRH was 33c stronger at €17.40. Grafton Group continued its good run with a gain of 10c to €2.95 while Kingspan added 1c to €5.76.

In other news, Aer Lingus was unchanged at 61c. A plan that will see up to 600 voluntary redundancies and cuts of up to €97m has been approved by the airline’s pilots in a union ballot. Smurfit Kappa increased 15c to €16.29 while Kerry Group weakened 52c to €23.76.

This story appeared in the printed version of the Irish Examiner Saturday, March 06, 2010