Surge in share prices continues

IRISH shares surged ahead yesterday for the second consecutive day led by the financial and construction stocks. The ISEQ index closed up 37.18 points to 6437.27.

AIB Bank advanced a further 25c to €17.50 in response to its positive trading statement on Thursday, while rival Bank of Ireland climbed 25c. In the second line, Anglo Irish Bank was flat at €9.88, while Irish Life and Permanent increased by 7c.

Construction stocks were also firmer, with US house building activity reported to have risen by 0.2pc last month. CRH finished 33c higher at €22.10; Kingspan climbed 10c, while Grafton and McInerney also gained 22c and 12c.