Market flexes its muscles

THE ISEQ index raced ahead yesterday, bucking the mainstream European trend as investors moved in after the market was closed for the bank holiday on Monday. The index closed up 95.51 points at 2,818.03.

In the financial sector, AIB soared 25c to €1.60, Bank of Ireland gained 7c to €1.78, Irish Life & Permanent jumped 13c to €3.50, while insurance group FBD progressed 9c to €7.24.

In construction, CRH rose €1 to €17.60, Kingspan climbed 52c to €5.15 while Grafton Group leapt 42c to €3.21.

Ryanair fell 9c to €3.54 after it posted its first loss in 20 years. Drinks company C&C increased 10c to €2.35 while food group Glanbia jumped 12c to €2.37.