ISEQ index rises 59.53 points

The Irish market began the week strongly, moving in line with the major European markets.

The ISEQ index rising 59.53 points to 5159.98.

Gresham Hotel Group added 10c to 1.32, following Friday's announcement that a group of investors have raised their proposed bid for the company from €1.35 to €1.45 a share. Competitor Jurys Doyle also advanced gaining 20c to 10.75. The financials all moved higher with Bank of Ireland up 13c, Allied Irish Bank 10c firmer at 13.40 and Anglo Irish Bank finished at 13.75, a gain of 5c.

In the construction sector, CRH moved ahead 30c to 17.50, Abbey rose 23c to 7.88, though Heiton Group slipped 10c to 4.60. The Northern Irish pharmaceutical company Galen Holdings was unchanged at 11.55 ahead of its first quarter results, due today, while Elan Corporation closed 37c firmer at 6.85.

Elsewhere IWP eased 1c to 33c following the sale of its Dutch plastic business, Skiffy Group, for €28.1 million.