BoI shares rise on takeover rumours

BANK of Ireland’s share price shot up by 3.7% in Dublin yesterday, an increase of 60 cents, as rumours gripped the markets that British bank, HBOS (Halifax Bank of Scotland) is about to bid for the country’s second-largest bank.

The rumours added close to €600m to the worth of the bank, pushing its market value above €16 billion.

Head of research at Dolmen Stockbrokers Stuart Draper said: “I would be very cautious about dismissing these kind of rumours at this stage.”