Market finally bounces back

AFTER seven consecutive sessions of large losses for the Irish market, the ISEQ index was up a healthy 307.56 to greet the final bell at 8,563.39.

The financial sector was the most significant tide turner as the four principal Irish banks showed significant improvement. AIB and Bank of Ireland were ahead, 1 and 60c to €19.25 and €13.95. Anglo-Irish followed suit adding 45c to €13.70 while Irish Life and Permanent tacked on 76c to €17.75. CRH was up €1.29 to €32.85.

Elsewhere, Ryanair released first quarter results ahead of market expectations which saw its price moving on 59c to €5.30. The major negative on an otherwise extremely positive day was a surprise profit warning announcement from C&C. The stock lost a massive €2.23 to €6.00. Elan bounced back from Monday‘s losses rising 92c to €13.22.