Market breaks through 2,900 points

THE ISEQ index broke through the 2,900 level again yesterday to close up 50.94 points at 2,926.26. Volumes were again on the weak side.

The CSO released inflation data for November this week. The sub-indices for private motor and home insurance show home insurance up 16.8% in the year to-date and car insurance up 12.3%.

In the financial sector, AIB dropped 4.4c to €1.31, Bank of Ireland slid 3.5c to €1.42, Irish Life & Permanent gained 10c to €3.25, while insurance group FBD Holdings moved up 10c to €6.85.

In the construction sector, CRH increased 45c to €18.37, Kingspan decreased 15c to €6.20, while Grafton Group gave up 3c to finish at €2.86.

In other news, Dragon Oil shareholders rejected a bid by Emirates National Co to buy 48.5% of stock it doesn’t own, ending an attempt by the Dubai state-owned refiner to strengthen control over assets in Turkmenistan. The shares closed down 3c at €4.29.