AIB bond swap boosts market

THE ISEQ index closed up 25.97 points yesterday at 2,955.57. The main news of the day was that the AIB Group has announced that it to exchange up to €2.7 billion worth of bonds in a swap programme to boost its core tier 1 capital ratio.

AIB jumped 25c to €2.24, Bank of Ireland progressed 18c to €2.18, Irish life & Permanent advanced 39c to €4.35, while insurance group FBD added 3c to €7.88.

In construction, CRH dipped 10c to €17.70, Kingspan increased 5c to €5.07, while Grafton Group moved up 2c to €3.12. In other news, Elan gained 12c to €5.72, C&C dipped 2c to €2.14, Paddy Power decreased 39c to €17.99, Kerry Group declined 53c to €15.47, while Glanbia lost 10c to €2.65.