Market rises despite ECB rate hint

THE ISEQ continued in positive territory despite the European Central Bank president hinting a further rise in interest rates. The Dublin exchange closed 25.12 points higher at 8,023.08.

Market heavyweight AIB was unchanged at €19.90. Bank of Ireland gained 22c on the day to €14.87. Irish Life and Permanent was 9c stronger at €19.03. Anglo Irish bucked the trend dropping back 5c to €12.45.

In construction CRH rose 25c to €27.20. Grafton Group added 1c to €10.42. Kingspan jumped 24c to €15.60.

Elsewhere, C&C moved ahead 5c to €10.60. Dragon Oil was 14c higher at €2.44 following the appointment of Gautam Sashittal as chief financial officer. Elan closed down 55c to €12.10 as Novartis MS drug moves into phase three clinical trials. Horizon Technologies rose 1c to 96c after posting a 39.5% increase in revenues.