Financials spark market rebound

THE ISEQ Index rebounded from some heavy losses recently with the financials the major catalyst for the drive. The Dublin market jumped 111.15 points to 8,737.45.

The banks led the charge as the financial sector stormed 230.17 points ahead. AIB redressed its downward trend by climbing 44c to €20.99. Bank of Ireland added 20c to close at €16.30, while Anglo Irish soared 25c to €14.45. Irish Life & Permanent missed the boat falling 5c to €19.35.

The construction sector saw CRH peg back some of the previous day’s losses, gaining 45c to €28.60. Grafton strengthened by 11c to €11.15, while Kingspan moved 9c ahead to €16.80. Ryanair announced it had increased its holding in Aer Lingus by 6% to just over 25%. The share price closed 26c higher at €9.70.