Market up despite British recession

THE ISEQ index closed up 43.04 points yesterday at 2,278.03. News that Ireland’s main trading partner, Britain, has slid in to deep recession weighed heavily as did major falls on world markets.

AIB enjoyed another good day, closing up 13c at 75c. Bank of Ireland regained some recent losses jumping 11c to 42c while Irish Life & Permanent gained 16c to €1.60.

In the construction sector CRH added 13c to €17.96, Kingspan shed 6c to €2.28, Grafton Group lost 12c to €1.49 while McInerney Holdings was unchanged at 14c.

In other news, Aer Lingus dived 20c to €1.15 after the rejection by the government of Ryanair’s €1.40 per share bid for the carrier. Ryanair moved up 7c to €3.10, Elan rose 20c to €5.70.