Irish shares up 7.2% amid expectations of rate cut

Shares on the Irish Stock Exchange have surged in value this morning after upward momentum in the US and Asian markets overnight.

The ISEQ Index was up 7.2% just before 11am, with the main banks all making significant gains.

Other European countries are also experiencing a surge, with the FTSE 100 in London up almost 5% and the CAC in Paris up 6.4%.

The gains come amid growing expectations of an imminent interest-rate cut by central banks across the world.

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