Stocks rally despite overvalued euro fears

THE euro is overvalued against the dollar by at least 30%, which could sink even lower before it starts to rally later in the year, Bank of Ireland said yesterday.

The warning came as Irish shares made strong gains — up nearly 4%, or €2.5bn, towards the end of trading.

* Anglo Irish Bank gained almost 9.3% to €9.29, the biggest increase of the day among the banks.