Optimism pushes up share prices

IRISH shares, spurred by overnight gains in New York, rose yesterday to push the ISEQ up by €1.5 billion this week.

Strong US gains had prompted a bout of optimism, thanks to stronger-than-expected manufacturing data and hopes of an imminent rate cut.

A healthy update on Germany’s economic sentiment followed later yesterday, buoying European markets. The Centre for European Economic Research said its German expectations indicator suggested investors were more optimistic about the outlook for Germany’s economy.