Bank performance sees market rise

THE ISEQ index continued on an upward trend yesterday on a strong performance by the banks. The exchange added 65.89 points to close at 7,873.84.

The financial sector overall jumped 179.69 points. Market heavyweight AIB was 13c stronger after announcing plans to sell and lease back 12 Dublin-based branches. Rival Bank of Ireland gained 16c to €14.96. Anglo Irish and Irish Life and Permanent were also winners closing 35c and 25c higher at €12.80 and €19.30 respectively.

Construction giant CRH was unchanged at €25.80. Grafton Group added 5c to €10.30. Kingspan Group declined 6c to €13.92.

Pharmaceutical company Elan remained in positive territory, moving forward 54c to €12.19. Ryanair fell back 2c to €7.10 as the company intends suing the British Government for losses incurred due to the recent terrorism alert and security restrictions. Fyffes Plc climbed 2c to €1.52 following the purchase of a Spanish citrus company.