Financial stocks take lead

THE ISEQ index gained 27.50 points yesterday to close at 4246.77.

The financials took the lead, with Allied Irish Bank adding 25c to 14.45, while Bank of Ireland advanced 11c to 11.31.

First Active climbed 30c to 5.30 following the publication of Central Bank of Ireland figures, suggesting that mortgage lending volume growth in Ireland

continues to be robust.

Anglo Irish Bank lost 7c to 6.68, while IFG Group drifted 2c lower to 54c.

Overall, the financial index rose 90.69 points to 8970.14. Construction stocks were mixed, with CRH slipping 45c to 12.30 and Heiton Group dropped 5c to 2.50.

On a more positive note, Grafton Group rose 20c to 3.70 and Kingspan finished 8c higher at 1.83. Elsewhere, budget airline Ryanair rose 10c to 6.60 and Paddy Power gained 30c to 4.40. Hotel stocks were also stronger, as Jurys Doyle advanced 22c to 7.22 and Gresham Hotels closed 5c higher at 70c. Negative movers included Irish Continental Group, down 35c to 6.15;

Kerry Group were 10c weaker at 13.00 and Riverdeep lost 3c to 1.00.