Market bounces back strongly

THE Irish market rebounded strongly following the interest rate cut by the US Federal Reserve for the first time in four years. It rose 353 to 7,965.

Financial heavyweight AIB recovered €1.37 to close at €17.75. Bank of Ireland was 84c better off at €12.09. Anglo and Irish Life and Permanent increased 75c and 25c to €13.10 and €15.18.

Construction giant CRH rose €1.11 €29.05. Kingspan finished €1.18 higher at €17.55 while a new report by the Commercial Real Estate Advisor highlighted the importance of improving energy efficiency in non-residential buildings. Grafton added 12c to €8.46.