Markets buoyed by US GDP results

WORLDWIDE markets were buoyed yesterday following positive US fourth-quarter GDP figures showing the economy grew at a healthier pace than expected late last year.

Following five consecutive days of losses, the ISEQ index advanced 1.54% to close at 3789.98 points.

Irish Life and Permanent gained nearly 4% to 9.10 after it was announced that it is to sell its remaining US insurance business to a unit of Swiss Reinsurance Co. for $121 million, in order to focus on its home market. Bank of Ireland rose 2.2% to 10.22.