Significant advance by banks

THE ISEQ performed strongly yesterday gaining 64.06 points from Monday’s tally to close at 4310.71 points.

The financial sector’s two leading banks, Allied Irish Bank and Bank of Ireland, advanced significantly. Bank of Ireland rose 55c to €11.40 ahead of its first-half earnings report on Thursday. Allied Irish Bank gained 18c to €14.05. Other financials to end the day in positive territory were Irish Life & Permanent, adding 5c to €12.20, and IFG gaining a cent to 56c. Anglo Irish remained unchanged at €6.55. The Financial Index of shares closed 213.07 points higher to 8884.47 points.

Riverdeep Group Plc, the Dublin-based maker of educational software, said yesterday that CEO Barry O’Callaghan may offer to buy out the company. Riverdeep Group Plc fell 12c to €1.20.

Alphyra, another company whose management may execute a buy out, continued to rise by adding 6c to €2.07.

Other noteworthy movers were pharmaceuticals Galen 35c higher to €7.40 and Elan down 12c to €2.22. On a positive note Jury's Doyle Hotel Group added 18c to €7.08, CRH Plc climbed 15c to €12.95 and Ryanair rose 8c to €7.50. Greencore lost 13c to €2.39.