Government guarantee boosts trade

THE ISEQ index finished up 259.11 points at 3,550.63 yesterday as the Government announced a guarantee on all deposits in Irish banks.

The scheme applies to AIB, Bank of Ireland, Anglo Irish Bank, Irish Life and Permanent, Irish Nationwide Building Society and the Educational Building Society.

There is also renewed hope that US lawmakers can still come up with a rescue plan for banks.

In the financial sector, AIB jumped 90c to €5.90, Bank of Ireland added 68c to €3.95, Irish Life & Permanent recovered to €4.85, an increase of €1.28, while Anglo Irish Bank regained most of yesterday’s losses, surging €1.54 to €3.84.

In construction, CRH fell a further 37c to €15, Kingspan gained 25c to €6.40, while Grafton rose 8c to €3.23.