Market rallies on US news

THE Irish market rebounded yesterday to gain back some of the losses made last week.

On a day where bank stocks were very much in the spotlight, the ISEQ index added 84.31 to close the session at 4,499.11.

The US Treasury Department announced on Sunday that it was willing to step in to bolster investor confidence in the country’s two largest mortgage corporations — Fannie Mae & Freddie Mac. Financial stocks across the world benefited and AIB and Bank of Ireland added 25c and 17c to €7.60 and €4.82.