Strong rally by financials

THE ISEQ Index of shares closed up yesterday

The financial sector mirrored a strong day by British banks and rallied to recover some recent heavy losses.

Bank of Ireland led the charge for a second day running by adding 60c to 9.65. Irish Life & Permanent was the biggest gainer in of the financials by closing 70c higher to 11.40. Other considerable gainers in the financial sector included Allied Irish Bank up 55c to 12.35 and Anglo Irish Bank climbing 23c to 5.98.

IFG lost 2c to 58c. The Irish Index of Financial shares closed 399.02 points higher to 7798.14 points. The food sector also performed well. Kerry added 13c to 12.45, Greencore gained 9c to 2.60 and Glanbia finished the day 4c better to 1.53. IAWS lost 14c to 6.75. Other noteworthy movers included CRH gaining 1.15 to 12.50, Iona Technologies up 30c to 2.00, Ryanair 30c higher to 5.60 and Elan up 10c to 1.40.