FBD share rally leads market higher

The ISEQ was up 34.08 points to 4542.09 yesterday, reflecting gains on other European bourses. Main movers were Bank of Ireland, up 16c, Irish Life and Permanent adding 25c and FBD.

Shares in FBD rose €1.60 to €8.90 after the insurer said a sharp decline in claims led to a 300% increase in first half pre-tax profits.

Glanbia was 5c off after posting a modest increase in profits, saying increased competition and the appreciation of the euro were impacting on growth. Elsewhere CRH added 15c to €16.40 while Ryanair fell 6c to €6.50.