Market gains ahead of bailout plan

THE ISEQ index closed up 74.10 points yesterday at 2,395.22 as the market awaits the final details of the €8bn AIB and Bank of Ireland recapitalisation scheme. The government outlined on Tuesday its much awaited plan to generate €2bn in savings from public expenditure, but no further details were forthcoming about the recapitalisation of the banks.

In the financial sector, AIB ended the day flat at €1.15, Bank of Ireland jumped 7c to 65c, Irish Life & Permanent gained 15c to €1.60, while FBD Holdings progressed 23c to €7.80.

In the construction sector, CRH increased 76c to €18.50, Kingspan dipped 2c to €2.54 and Grafton Group moved up 9c to €1.63.