Financial shares fuel strong rally

GOOD volumes across the banking sector helped the IESQ move confidently ahead yesterday with a 1.2% gain to 4488.95.

Allied Irish Bank led with a 17c rise to 12.45 while Irish Life and Permanent moved ahead 3c following an upgrade by Goodbody Stockbrokers. Bank of Ireland, which announced a further buyback of 100,000 shares on Monday, was up 5c at €10.80.

Ryanair, which announced a new route from Brussels-Charleroi to Stockholm-Skavsta, rose 13c to €6.31. Construction stocks were also positive. CRH, the main mover, continued its strong run, jumping 32c to €16.27. Kingspan and Grafton added 4c and 5c respectively.