Market makes marginal gain

THE ISEQ index closed higher yesterday led by gains in Kerry Group.

The exchange finished up 25.42 to 8,097.40.

In finance, Bank of Ireland gained 10c to €15 after it confirmed it has received a conditional proposal from Davys to acquire its share in the stockbroker, believed to be worth in the region of €300m. AIB added 2c to €20.07 with Anglo-Irish climbing 11c to €12.71 and Irish Life & Permanent remaining flat at €19.10.

Construction stocks were mixed with CRH leading the pack to tack on 15c to €27.45. Kingspan tumbled 27c to €15.90, Grafton Group eased back 10c to €10.30 while McInerney was unchanged at €13.

Elsewhere, Kerry Group was the leading climber, soaring 30c to €18.70. Paddy Power tumbled 14c to €14.45 as rival Ladbrokes said it has purchased the MD racing chain of betting shops in Ireland.