Nervous market rallies in late trade

SHARES in Dublin began strong, but fell back after news broke of a series of incidents in London underground stations

However, the market rallied following a statement that these incidents did not appear to be as serious as two weeks prior. The ISEQ index strengthened 50.74 points to 6764.14, spurred on by banking stocks.

AIB rose 5c to €17.95 while Bank of Ireland added 10c to €13.78. Irish Life and Permanent charged ahead 22c to €14.72 following release of restated 2004 results under IFRS. Anglo Irish jumped 14c to €11.17.

In construction CRH gained 46c to €22.94 while Kingspan and Grafton added 14c and 12c respectively.

Elsewhere, Eircom shed 2c to €1.83 while Elan advanced to €6.60.