Market gains on ECB outlook

THE ISEQ index closed up 29.53 points at 2,881.73 yesterday. The ECB said it expected a sharper recession this year in the eurozone than earlier forecast, while also unveiling details of how it will pump cash into the economy while it keeps interest rates on hold.

In the financial sector, AIB gained 2c to €1.90, Bank of Ireland dipped 5c to €1.76, Irish life & Permanent fell 6c to €3.34, while insurance group FBD increased 37c to €7.90.

In the construction sector, CRH slipped 6c to €17.52, Kingspan added 7c to €4.70, while Grafton Group decreased 3c to €3.07.