Market climbs on bank gains

THE Irish market followed positive moves on other world bourses as better-than-expected earnings reports from European and US companies brought investors back to the market.

As volumes picked up, the ISEQ index traded 121.70 points higher at 2,622.05.

The big news in the financial sector was AIB”s announcement that chairman Dermot Gleeson and chief executive Eugene Sheedy were to retire. The share price gained 15c to 96c. However this gain was largely in place before the announcement was made. Bank of Ireland and Irish Life and Permanent also moved on adding 11c and 6c to 77c and €1.93.