Market waits on bailout impact

THE ISEQ index ended up 5.90 points at 2,510.92 yesterday.

The government unveiled plans to inject up to €€10 billion into the financial institutions. However, a lack of detail on the proposed plan caused the financials to drift back from their early morning gains.

Shares in AIB finished 1c less at €1.97, Bank of Ireland added 10c to 98c, Irish Life & Permanent jumped 14c to €1.66, Anglo Irish bank weakened 2c to 36c, while FBD Holdings was 10c lighter at €7.55.

In construction, CRH increased 47c to €19.86, Kingspan dipped 4c to €3.10, Grafton gained 9c to €2.16 while McInerney Holdings was unchanged at 17c.

In other news, Ryanair declined 14c to €2.79, as the company launched a hostile attempt to take over Aer Lingus by writing to its rival’s shareholders, asking them to accept a €750m bid.