ISEQ slightly up after US rate cut

The ISEQ index of Irish shares was reporting a slight increase at 11am this morning.

The index was valued at 2,694.65, an increase of 15.28 points, or just over half a percentage point. This was on the back of similar global rallies following the decision of the US Federal Reseve to cut interest rates.

The major Irish banks were generally strong, with AIB, down 1c to €3.34, the only faller. Anglo Irish Bank was up 8c to €1.78, Bank of Ireland had gone up 13c to €1.71 while Irish Life & Permanent made a 50c gain to €2.60, an increase of almost 25%.

Elsewhere, Elan was down 95c to €4.90 while Paddy Power was up 23c to €11.43.

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