Market rises as inflation eases

YESTERDAY brought confirmation from Eurostat that inflation in the eurozone had eased to 2.3% in August, thus limiting the ECB’s scope to raise interest rates into 2007. The ISEQ index jumped 48.90 points to finish the week at 8071.98 as a result.

The financial sector led the way. AIB and Bank of Ireland added 15c and 3c to close at €20.05 and €14.90 respectively. Anglo-Irish gained 15c to €12.60, while Irish life and Permanent was in the black by 7c to €19.10.

The construction sector as a whole was strong on the day, with CRH adding 10c to €27.30 and Kingspan 57c to €16.17. Grafton however shed 2c to €10.40.