Financials provide fuel for advance

IRISH stocks rose for the second consecutive day. The ISEQ ended the day 26.65 points higher at 6056.60 with the banking stocks the main catalysts for the rise.

Market leader AIB surged ahead following press reports that its chief executive had considered a merger with M&T Bank at the height of disclosures of overcharging and tax irregularities last year. At the closing bell the stock had advanced 29c to €16.40.

Bank of Ireland was also up 4c to €12.12. On the second line Anglo-Irish advanced 15c while Irish Life and Permanent jumped 20c to €13.40.

In construction CRH closed unchanged at €20.00, Grafton Group rose by 12c to €8.84 while Kingspan and McInerney were both lower by 3c and 13c respectively.

Elsewhere Jury's Doyle continued its rise advancing 5c to €14.95. Pharmaceutical Company Elan was lighter at €5.70 while low fares airline Ryanair added 7c to €6.05.