Market in strong advance

THE Irish market received a timely boost yesterday as the banking stocks and CRH all traded strongly. The ISEQ moved on 102.33 points to 2,746.19.

Bank of Ireland released full year 2008 results and investors took a positive view that the numbers were well ahead of analysts expectations. The bank also announced that it was adequately funded and that it was to buy back its own bonds at a deeply discounted rate on the secondary market. The share price jumped over 23% to €1.33. AIB and Irish Life and Permanent followed suit adding 8c and 20.3c to €1.16 and €3.