Financial stocks in the spotlight

THE Dublin market rose for the fourth day in succession, adding 22.55 points to close at 4720.38.

Financial stocks were in focus yesterday. Anglo Irish Bank continued its strong run, gaining 75c to 11.60. Several Irish brokers have now raised their recommendations on the stock following the excellent results announced on Wednesday. First Active finished 6c firmer at 6.15, as the takeover of the bank by Royal Bank of Scotland moved a step closer to completion after the Competition Authority stated it would not seek to approve the deal. Elsewhere, Bank of Ireland rose 14c to 10.34, Allied Irish Bank slipped 2c to 12.10, while Irish Life & Permanent fell 25c to 12.00.

Other movers included bookmaker Paddy Power, up 11c to 6.79, while Elan Corporation advanced 10c to 4.47.