Market makes small advance

SHARES in Dublin had a rare positive day yesterday as the ISEQ index rose 84.02 points to finish at 2,048.36.

AIB and Bank of Ireland gave up 1c and 0.4c to 41c and 18.6c. However, Irish Life and Permanent traded strongly, gaining 26% to 83.5c. Final year 2008 results yesterday outlined that the company expected to make a profit in 2009 and also that it did not require a government cash injection.

In construction, CRH surged 65c to e16.20. The company announced a e1.2bn rights issue to raise capital to pay down debts and expand its US operation where US president Obama’s stimulus package is expected to pump funding into America’s road infrastructure.