Financial sector leads market rally

THE Irish Index of shares reflected a positive day for markets across Europe yesterday, closing 25.57 points higher at 4519.66.

The financial sector performed strongly. Irish Life & Permanent led the charge adding 2.81% to €10.23. Allied Irish Bank and Anglo Irish Bank also featured stongly, gaining 2.12% and 1.5% to €12.52 and €8.78 respectively. The ISEQ Financial Index rose 1.29% to 8433.66 points after an analyst at Morgan Stanley commented that Irish banking stocks 'will regain the attention of fund managers'.

Elsewhere, Ryanair gained 1.56% to €6.50. On another positive note, Kenmare Resouces added 4.17% to 25c.