European markets in bullish mood

EUROPEAN markets were in buoyant form yesterday as investors enjoyed a stream of upbeat corporate news. In Dublin the ISEQ gained 15.74 points to close at 5337.45.

CRH advanced 41c to 18.61 as the trend of solid quarterly results from the construction sector in the US continued, with strong numbers from Vulcan Materials. Abbey rose 8c to €8.43 while Grafton Group edged 7c higher ahead of next Friday's deadline for the company to make a formal offer for Heiton Group.

Elan slipped 76c to close at €16.14 following its second quarter results. Ryanair dropped 5c to €4.50 on fresh concerns about the price of crude oil.

The financials stocks followed the leading British banks higher. Allied Irish Bank climbed 17c to €12.73 while Bank of Ireland finished at €10.83, a rise of 15c.