Market up on recapitalisation news

THE Irish market hovered around break even yesterday as speculation grew that the Government was on the verge of announcing a significantly larger bank recapitalisation package for AIB and Bank of Ireland.

Trading was light when compared to last week as investors sought clarity on the specifics of any package. The ISEQ index closed up 12.34 points to 2,323.73.

Among the financials, AIB gained 10.3c to €1.32, while Bank of Ireland and Irish Life and Permanent shed 2c and 1c to 63c and €1.55.