ISEQ up 4%

The value of Irish shares soared 4%, as the ISEQ index of Irish shares finished the day 112.09 points ahead on 2,923.82.

The financial sector enjoyed a much-needed recovery after some recent volatility. Bank of Ireland enjoyed the biggest climb in the sector, shooting up 34c to €1.75. Irish Life and Permanent was up 32c to €4.65 and Allied Irish Banks improved 24c to €1.69.

The construction sector also enjoyed a good day. CRH led the way, ballooning by 57c to €17.61. Kingspan (up 30c to €5.70) and Grafton Group (up 19c to €3.39) also did well.

Tullow Oil (up 66c to €13.50), Paddy Power (up 56c to €21.14) and DCC (up 30c to €18) were some of the other star performers today.

Pharmaceutical giant Elan gained 17c to €3.95. Irish Continental Group and Merrion Pharmacies both gained 15c to finish on €13.15 and €3.35 respectively.

The only loss of significance came for Kerry Group, which sunk 22c to €20.18.