Strong gains in banks drive 2.7% shares rise

SHARES in the Dublin market rose by more than 2.7% yesterday, driven by strong gains in the banks and other sectors.

Anglo was a major mover on the day and rose 11.46%, continuing the good run started last Thursday following the announcement from the Financial Regulator that it was to carry out an investigation into suspicious share dealings in Irish stocks.

Analysts are optimistic the announcement of the investigation will counter some of the negativity that has seen about 50% wiped off the value of the big banks over the past six months.