Positive day for financials

THE Irish index of shares rose marginally yesterday, gaining 4.23 points to close at 4105.42.

Irish financial shares had a positive day. Irish Life & Permanent added 5c to €12.05 on announcement that the country's third largest financial services industry company have repurchased 1.1million shares for cancellation. Allied Irish Bank gained 5c to €12.30 and Bank of Ireland climbed 15c to €10.75. Other financial’s which improved on the day were IFG 6c higher to 78c and First Active 5c stronger to €4.65. The Irish Financial Index closed 66.25 higher at 8177.75. Galen Holdings Plc, a provider of hormone replacement therapy, lost 3c to €6.39, falling for a third day, on news that four recently published studies have concluded that HRT increases the risk of breast cancer, stroke and blood clots. Other pharmaceutical movers included Elan, which dropped 25c to €2.20 and United Drug which fell 15c to €13.25.

Elsewhere, on a mixed day for Irish shares, Riverdeep lost 25c €1.25, DCC fell 22c to €9.83, Arnotts slipped 20c to €10.50 and McInerney closed 9 cents lower to €2.20.