ISEQ up as bank shares soar

ISEQ up as bank shares soar

Following yesterday’s second stage speech on the National Asset Management Agency (Nama) Bill 2009, bank shares have risen sharply on the Irish Stock Exchange this morning.

The ISEQ index was up almost 2.5%, climbing 78.85 points to 3,443.33.

Allied Irish Banks ballooned by more than 20%, rocketing up 55c to €3.18. Bank of Ireland was up almost 10%, improving 27c to €3.14. Irish Life and Permanent, which is not availing of Nama, dropped 7c to €5.82.

There were also some impressive gains in the construction sector. CRH improved 16c to €19.77 and Kingspan was 12c better off on €7.02.

DCC (up 68c to €18.83), Tullow Oil (up 20c to €13.60) and C&C (up 10c to €3.10) all did well.

FBD (down 10c to €8.20) was the only fall of significance.

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